Natural Gas News – September 14, 2022
Natural Gas News – September 14, 2022
China Is Aggressively Buying Up Cheap Russian LNG
Russia is selling liquefied natural gas from the Sakhalin-2 project in the Far East to China at a 50-percent discount and still making a profit on it, Bloomberg has reported, citing unnamed traders. “Russian supply is still making its way into the market, just with a reorganization of trade flows via market participants who don’t take issue with accepting Russian cargoes,” Saul Kavonic, an energy analyst at Credit Suisse, told Bloomberg. The other two big buyers of Sakhalin-2 LNG, Japan, and South Korea, according to Bloomberg, stopped buying the commodity after Russia’s invasion of Ukraine. Japan, however, continues to receive Russian LNG from Sakhalin-2 under other contracts. “It appears China is happy to take Russian LNG cargoes at discounts, swapping out alternative supply that can then be directed to Europe… For more info go to https://bit.ly/3QKhHRw
Buyers Are Stocking Up On Floating LNG Ahead Of The Winter
Russia is selling liquefied natural gas from the Sakhalin-2 project in the Far East to China at a 50-percent discount and still making a profit on it, Bloomberg has reported, citing unnamed traders. “Russian supply is still making its way into the market, just with a reorganization of trade flows via market participants who don’t take issue with accepting Russian cargoes,” Saul Kavonic, an energy analyst at Credit Suisse, told Bloomberg. The other two big buyers of Sakhalin-2 LNG, Japan, and South Korea, according to Bloomberg, stopped buying the commodity after Russia’s invasion of Ukraine. Japan, however, continues to receive Russian LNG from Sakhalin-2 under other contracts. “It appears China is happy to take Russian LNG cargoes at discounts, swapping out alternative supply that can… For more info go to https://bit.ly/3QKhHRw
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