So the European Union thought that sanctioning Russia and not buying its gas was the best thing to do so it no longer finance its war machine. Turns out now the European Union is funding not only Russia but China as well which is also a terrorist belligerent state who is itching to do to Taiwan what Russia is doing to Ukraine.
The only reason why they aren’t doing it is because they are little cowards but if USA wasn’t around to protect Taiwan, they would have invaded them a long time ago. The European Union now needs to urgently stop buying gas from China as its funding both Russia and China.
We were surprised to learn a month ago that China has been importing more Russian natural gas this year than it has from most other sources, despite a suppressed appetite for energy due to its housing crash and economic downturn (for which “zero covid” has emerged as a convenient scapegoat for emperor Xi).
According to statistics from Chinese customs, China purchased a total of 2.35 million tonnes of liquefied natural gas (LNG) in the first half of the year, valued at US$2.16 billion, the SCMP reported in July. The value of imports climbed by 182% while the volume increased by 28.7% annually. It meant that, as of this point in the year, Russia had eclipsed both Indonesia and the United States as China’s fourth-largest LNG supplier!
Of course, this should not be confused with pipeline gas, for which the Russian producer Gazprom recently announced that daily supplies to China via the Power of Siberia pipeline had increased to a new record high (Russia is China’s second-largest pipeline natural gas supplier after Turkmenistan), and earlier disclosed that the supply of Russian pipeline gas to China had increased by 63.4% in the first half of 2022.
Analysts wondered what caused this strange increase in Russian LNG shipments. In spite of the fact that China imports nearly two-thirds of the natural gas it uses, mostly in the form of LNG, this year’s demand was significantly lower due to the global economic downturn and widespread plant closures. In other words, why the increase in Russian LNG when it comes at the expense of everyone else and 1) there is just no local demand?
According to Michal Meidan, head of the China Energy Programme at the Oxford Institute for Energy Studies, “the surge in Russian LNG might represent a displacement of cargoes destined to Japan or South Korea because of sanctions, or lower demand there.”
The General Administration of Customs of China has stopped disclosing the breakdown of trade volume for pipeline natural gas since the beginning of the year. Spokesman Li Kuiwen confirmed that the decision was made to “protect the legitimate business rights and interests of the relevant importers and exporters,” but one thing was clear: China wanted to keep its arms-length gas deal with Russia as obscure as possible.
We now know the answer: China has been covertly redistributing that foul, contaminated Russian LNG to the region that needs it the most. Europe, of course, is doing this while adding a kidney’s worth of markups.
A significant LNG broker in China, JOVO Group, recently revealed that it had resold an LNG cargo to a European client.
The payoff from such a transaction, according to a futures trader in Shanghai, could be in the tens of millions of dollars or potentially exceed $100 million.
On an earnings call in April, Sinopec Group, the largest oil refiner in China, also admitted that it had been selling extra LNG on the foreign market.
According to local media, Sinopec alone has sold 45 LNG cargoes, or around 3.15 million tonnes. More than 4 million tonnes of Chinese LNG have likely been sold again, which is comparable to 7% of Europe’s gas imports over the six-month period ending in June.
Without a doubt, all of this “extra” LNG was partially or completely soured in Russia, but because it was “tolled” in China, it is no longer Russian gas, its now Chinese LNG.
Europe is now in a situation where it continues to fund Russia and its war machine and fund China as well. This isn’t even a sanction, its an upgrade, in fact we are now double helping these Eastern communist warmongers!
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So China bought LNG gas from Russia and sold it to the EU, who had, THEMSELVES, SANCTIONED Russia thereby preventing EU States from importing LNG and Natural Gas from Russia. So WHO is causing the problem here ??!!! Seems to me that it’s that Un-elected EU CABAL in Brussels who are shooting themselves in BOTH FEET !!!
And why can’t China sell its purchased LNG to whoever the hell it wants to ??!! It’s got EFF-ALL to do with the EU !!!
And by the way, India has been buying an awful lot of Russian OIL. India then Refines it in their own Refineries and then sells Fuel and Diesel to EU States !!! Needless to say, due to the INTRANSIGENCE and STUPIDITY of that EU CABAL, the citizens of Europe are now Paying Through The Neck for their Energy Products !!!