WSJ: EU countries will have to fight with Asia for Russian LNG as winter approaches

In the coming months, Europe is likely to have to compete with Asia for Russian liquefied natural gas, writes the Wall Street Journal.

According to the authors of the publication, the situation for the EU countries will worsen with the approach of winter.

“Even Russian LNG supplies can be disrupted. Economic recovery in China after the coronavirus lockdown or cold winter in Asia will become an excuse to fight Europe for LNG exports, which will lead to further price increases,” the article says.

The publication believes that the deterioration in the standard of living of Europeans may affect their steadfastness in supporting Ukraine, and governments in the EU countries that will destroy the Western coalition may come to power.

“High energy prices are affecting the European economy and causing difficulties that will lead to public unrest, and people will start to vote with their empty wallets,” the WSJ described the scenario.

The European market experienced a gas collapse last year, driven by limited supply from major suppliers, low occupancy levels of underground gas storage facilities (UGS), and high demand for liquefied natural gas (LNG) in Asia.

Gazprom announced the impossibility of returning the Nord Stream turbine

Now Europe continues to be under pressure due to the ongoing tension with supplies from Russia. The export of Russian gas fell after the start of a military special operation in Ukraine: supplies through the Nord Stream and through the Ukrainian gas transportation system dropped significantly, and through the Yamal-Europe stopped altogether.

The Russian side has repeatedly stressed that the restriction of supplies via Nord Stream is due solely to sanctions, which caused problems with the maintenance and repair of German Siemens gas pumping units. Now only one turbine provides the work of the highway. Presidential spokesman Dmitry Peskov noted that “the Poles sanctioned the Yamal-Europe line, and Ukraine stopped one of the two branches under an absolutely far-fetched pretext.”

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