News and Opinion: October 17, 2022. China Stops LNG Resales to Europe

China, in an effort to secure its own energy source, is halting LNG exports to Europe. This LNG was mostly Russian LNG that China bough in excess in order to resale it at a higher price.

Europe was buying the Russian LNG knowing that it was bypassing the same sanctions it had imposed on Russian gas.And it was paying more for it. This buying has allowed Europe to accumulate gas in anticipation for the winter.

The problem for Europe may arrive during the next winter.

For further information, read this article

This post is intended to only raise awareness. In order to make actual financial decisions please contact your financial advisor and/or tax advisor prior to making the decision.