Russia's biggest energy company says it'll take it at least 10 years to recover gas sales lost because of the Ukraine war
zephyreks @ zephyreks @lemmy.ml Posts 242Comments 731Joined 2 yr. ago
Chinese scientists develop cure for diabetes, insulin patient becomes medicine-free in just 3 months
Chinese scientists develop cure for diabetes, insulin patient becomes medicine-free in just 3 months
Chinese scientists develop cure for diabetes, insulin patient becomes medicine-free in just 3 months
Mexico's president is willing to help with border migrant surge but wants US to open talks with Cuba
Israel attacks 600-year-old monastery in South Lebanon a day before Christmas Eve
First rupee payment for oil to UAE: India looks for more deals, but finds no targets
Under Argentina’s New President, Fuel Is Up 60%, and Diaper Prices Have Doubled
Blinken calls out other countries for not demanding Hamas surrender and ‘stop hiding behind civilians’
Israel's Defence Minister Gallant warns Hezbollah: Israel can do in Beirut what it's doing in Gaza
Asia’s central banks snap up gold in ‘new normal’ to reduce risk from US dollar
Trans rights boosted in China as court backs sacked worker, calls for ‘respect’
Maduro orders the 'immediate' exploitation of oil, gas and mines in Guyana's Essequibo
Is this a surprise? Unlike oil, gas is extremely hard to transport. China's playing hard to get with PoS 2 because the renewable transition is hitting much faster than anticipated (China is hitting their fossil fuels consumption and emissions targets years in advance)... And China doesn't see natural gas outside of PoS 1 and domestic production as a significant part of the energy mix in the future. They skipped the whole coal -> natural gas step.
Meanwhile, crossing the multiple borders to get to India would be a rather complex undertaking, and Nordstream got blown up so European revenues will be suppressed indefinitely even if the war ends (convenient, that).
Given no export target, most natural gas will have to be flared off in the process of oil production... Bad for the environment, but unavoidable given the lack of Nordstream.
Russian oil revenues are high, though, and the domestic surplus of energy has given Russian industry a kick in the butt, so the real losers in this are Germany and Europe, which have seen their industrial bases decimated.