China sells American gas to Europe: the stupidity of politicians has made us the best chickens to pluck in the world
China has sold several shipments of liquefied natural gas from the United States to Europe, a rare move by the world's largest buyer which highlights how skyrocketing prices are diverting trade flows.
According to knowledgeable traders, Unipec, the trading arm of Chinese state-owned Sinopec, sold at least three shipments of LNG for summer delivery to European ports via a tender that ended late last week. Shipments will be loaded from Venture Global LNG Inc.'s Calcasieu Pass export facility in Louisiana, although many details are confidential. So China is selling, or rather reselling, LNG to Europe, but it is an American product, not even a Russian or Asian one !!
European natural gas tariffs rose to a record high last week on fears that the war in Ukraine could curb flows from Russia, the largest supplier. The rally prompted Unipec traders to move away from the low-priced Chinese market, even as Beijing asks its importers to secure more fuel amid concerns over wartime disruptions.
European gas is usually traded at a discount on LNG in North Asia, home to major importers. But Europe's plan to ditch Russian gas means it will have to significantly increase LNG imports, with continent prices poised to stay higher than Asian rates as it seeks to lure every last drop of fuel from the spot market. . A situation in which the Chinese have thrown themselves into fish by taking advantage of their ability to act as global mediators and therefore profiting greatly from these redirected trips to Europe. The superficiality of the European countries has transformed us into the European plucking chicken, all with the help of the Commission and the combination of environmental constraints and the order to fill up the gas reserves to 90%.
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The article China sells American gas to Europe: the stupidity of politicians has made us the best chickens to pluck in the world comes from ScenariEconomici.it .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/la-cina-vende-gas-alleuropa-la-stupidita-dei-politici-ci-ha-trasformati-nei-polli-da-spennare-del-mondo/ on Tue, 15 Mar 2022 13:00:43 +0000.