Russia


2022-06-24: [Chinese Article Link Author: Niko “It is not just the summers that make European leaders sweat, but also the natural gas supplies lost in Europe under Russian manipulation.” Associated Press reports. According to the Al Jazeera website (ALJAZEERA) on 22 June, last week Russia cut gas supplies to five EU countries, including Germany, the largest economy of the 27 EU member States, and was also a country heavily dependent on Russian gas for electricity generation and energy production. There have also been successive supply cuts in Austria, the Czech Republic and Slovakia. Prior to that, Russia had shut down natural gas supplies to Poland, Bulgaria, Denmark, Finland, France and the Netherlands in recent weeks. Initially, the EU did not care about its “gas attack”, after all, Poland intended to phase out Russian gas by the end of the year, while other countries had alternative supplies. However, the recent natural gas combination has left the largest European Union economies, led by Germany, with 35 per cent and 40 per cent of Italian natural gas imported into Russia. The German Deputy Prime Minister and Minister of Economy and Climate Protection, Harbeck, stated that “headaches and heartaches”, and that Germany, which was heavily dependent on Russian gas, had to launch a `second-tier' alert, had little positive response and could only “accelerating the reduction of natural gas consumption in the short term” and even go back to the coal-fired era. In the face of gas disruption risks, Germany, Italy, Austria, and the Netherlands indicated this week that coal-fired power plants could help the continent survive the crisis. The German Ministry of Economy stressed that the restoration of coal-fired power plants could increase power capacity by up to 10 gigawatts if the supply of gas fell to critical levels, and a law related to this would be submitted to the upper house of Parliament on 8 July. 01 Russian “gas attack” According to the British Financial Times, the Russian gas company Gazprom will maintain gas pipeline No. 1 North Creek on an annual basis. The Russian energy giant, once again cutting off North Creek 1, one of Europe's most important natural gas pipelines, due to delays in maintenance operations, has been able to transport up to 67 million cubic metres per day through pipeline pumps since the evening of 16 June, meaning a reduction of about 60 per cent in two days. While Germany lost 60 per cent of its total gas supply, Italy also reduced its supply by half. In addition to direct supply restrictions, Russia had released financial incentives earlier, requiring European countries to use rubles for the purchase of natural gas. On 31 March, local time, President Putin announced the signing of the Gas Lube Settlement Order: Since 1 April, companies in “unfriendly countries and regions” must first open rubles in Russian banks and then pay rubles for Russian gas, otherwise they will be deemed to be in non-compliance with their obligations under the gas contract, and Russia will refuse to continue supplying them with gas. At the beginning of the financial sanctions in the United States and Europe, the rubles had fallen sharply as a result of the exclusion of a number of Russian banks from the international settlement system SWIFT and the freezing of foreign exchange reserves of some $300 billion. But after the natural gas ruble settlement, the rubles began to rise steadily and have returned to levels similar to those before the war, successfully deterring attempts by the United States and Europe to take advantage of the opportunity to crush Russian rubles. 02 Germany: Emergency gas-saving plan to launch Level 2 alert In the absence of immediate action, Germany is likely to experience a severe crisis of natural gas shortages this winter. Natural gas is not only an important source of energy for German residents to heat during the winter, but also an important source of energy for production and electricity for industrial industries. According to data published by the German Ministry of Economy, natural gas generated 15% of electricity in 2021. On 23 local time, the German Deputy Prime Minister and Minister of Economy and Climate Protection, Harback, issued a statement announcing Germany’s launch of the second phase of the gas emergency plan. Now that Germany is in a gas crisis, the Government will provide 15 billion euros in loans for gas reserves in preparation for the winter. In response to the shortage of natural gas, Germany announced an emergency plan at the end of March, divided into three phases: The first phase would be the “early warning phase”, in which Governments and energy suppliers would form crisis groups, but the State would not intervene by force, and gas suppliers, traders and operators would still be able to use market instruments to secure supply, but operators should ensure that gas reserves reached 80 per cent by October and 90 per cent by November; The second phase would be the “alert phase”, and the relevant legislation would be amended to give priority to natural gas for storage rather than power generation; The third phase will be an “emergency phase”, in which the State will intervene directly, the Federal Network Office of Energy Regulators will prioritize, and lower-priority industries and facilities will be “retarded” in order to guarantee the supply of gas in key industrial areas and in ordinary households. According to a report published on Sunday (19) by the German Energy Agency, the average reserves of German gas reserve facilities are currently 57%. The government requires that reserves be raised to 80% by 1 October and 90% by 1 November in order to address possible supply bottlenecks. Germany has done everything in its power to reduce dependence on Russian gas supplies. The first is the construction of liquefied natural gas reception stations to speed up the expansion of wind power and solar energy. But these projects take years to solve the emergency of this winter. In order to accelerate the reduction of natural gas consumption in the short term, a number of politicians and economic scholars have also proposed the provision of energy discounts or subsidies for the general population: The Director of the German Energy Agency, Klaus Müller, has even proposed the adoption of a law to limit the heating of private apartments — a proposal that has been widely criticized; The Minister of Economy, Harbeck, made it clear that legal measures to save energy as a result of the reduction in the supply of natural gas were not excluded; Harback also plans to introduce gas auctions in the summer to encourage industry to save gas consumption. Simply put, industrial enterprises that reduce the consumption of natural gas can be compensated financially for their savings, which will be set aside for the current winter. Even more irresistible is the fact that Germany, which has lost its natural gas supply, needs to invest more power stations, with a sense of technological regression. Germany will boost its natural gas reserves by launching additional coal-fired power generation, replacing the current ones, and the relevant legislation is expected to be adopted on 8 July. Immediately after Germany, the Dutch government has also indicated that coal-fired power plants will be allowed to operate again at full capacity to save natural gas for electricity generation. In response, the Minister of Economy, Harback, said that he was “convicted” and that this was “necessary in order to reduce the consumption of natural gas.” At the same time, he called on the back-up coal power plant to be ready for production as soon as possible. 03 Why is the EU worried? Prior to the outbreak of the war between Russia and Ukraine, the European Union had received nearly 40 per cent of its gas demand from Russia, and it had plans to reduce imports by two thirds by the end of the year and to rid itself of Russian gas by 2027. The immediate challenge, however, is that if Russia completely shuts down its gas supply, Europe will not be able to acquire all the fuel needed for the winter of 2022. In addition, it will have a negative impact on many energy-intensive industries, thereby slowing down the European economy and severely affecting natural gas power generation facilities. At present, nearly 57 per cent of underground air holes in Europe are filled with natural gas, while the European Commission has recommended that each member State increase its filling rate to 80 per cent by 1 November of this year, while Germany has set itself a target of 80 per cent by 1 October and 90 per cent by 1 November. However, analysts at the Brugell Research Centre in Brussels, the capital of Belgium, warned that if Bulgaria, Hungary and Romania continued to develop at the current pace, those countries would not be able to meet the EU target of 80 per cent, and that if Russia stopped supplying natural gas, Germany, Austria and Slovakia would also find it difficult to achieve that goal. Europeans are unlikely to fall into darkness this winter, as EU law requires member Governments to provide quantitative supplies of gas for industry in order to maintain the gas demand for households, schools and hospitals. Inevitably, however, industrial cuts and closures will affect employment at the expense of economic development, which already suffers from high inflation, and will also raise external concerns about the global recession, especially when central banks raise interest rates sharply. In addition, a complete cut in the supply of natural gas in Russia could lead to a record increase in the cost of electricity production. 04 Russian gas may be transferred to China, India. According to the British Financial Times, the solution for Russia’s oil industry lies in the diversion of energy destinations. Citing Konstantin Simonov, President of the Russian National Energy Security Foundation, the report states that if Russia’s energy resources are excluded from the European market, such production will occur in countries like India and China. The shift of Russian energy exports from Europe to Asia would be a complex process, given the lack of adequate maritime export capacity, and the possibility that the European Union and the United Kingdom could impose an insurance ban on vessels transporting Russian crude oil, thereby also limiting such maritime activities. Michael Moinian, Russian expert in oil and gas exploration for the consulting firm Wood Mackenzie, stated that, despite all the sanctions, it was possible to achieve the required growth in the oil industry and to make everything possible, although that would not be demonstrated in the foreseeable future. According to the Financial Times, the situation of Gazprom will be very difficult given that all Gazprom infrastructure is connected to Europe and that there are no pipeline facilities linking its production areas to the eastern part of Russia and to China. Since December 2019, however, the “Siberian Power 1” gas pipeline has been in operation between China and Russia. This pipeline could bring gas from the Russian Kovicta gas field in Irkutsk and Chayanda gas field in Yakut directly to China. The Russian-Chinese gas pipeline via the Mongolian “Siberian Power 2” has also been on the agenda as early as last year, and is already in the field survey phase. With the opening of the pipeline, it is expected that about 50 billion cubic metres of gas will be delivered annually to China, almost equal to the Russian-German gas pipeline “North Creek 2” to cover Russia’s losses in Europe. Russia hopes to become China's largest gas supplier, accounting for more than 25 per cent of China's natural gas imports by 2035. In 2014, the Russian Gas and China Oil and Gas Group Corporation signed a 30-year contract for the supply of gas. The $400 billion agreement was the largest deal ever made by Russian gas, and the “Siberian Power” gas pipeline was the first gas pipeline between Russia and China. China's customs data also show that China imported 400,000 tons of Russian liquefied natural gas in May this year, an increase of 56 per cent over its imports in May last year. In the first five months of this year, China increased its imports of liquefied natural gas from Russia by 22 per cent on a year-on-year basis, reaching 1.84 million tons, mainly from the Sakhalin II project and the Yamal Liquefied Natural Gas Company in the Arctic. 05 The Russian-European Gas War, Qatar. At a time when the United States and Europe were trying to deprive Russia of oil and gas revenues, Western countries hoped that Qatar would help fill the shortages resulting from the deprivation of those supplies. One of the liquefied natural gas stations in the State of Qatar (Qatar Media) Over the past 25 years, Qatar had been responsible for providing increasing amounts of natural gas to many customers around the world, generating huge gains and gaining geopolitical importance. The war in Ukraine could increase the influence of Qatar, which provided those countries with an appropriate alternative to fuel for heating, cooking and electricity generation at a time when the United States and its European allies were trying to deprive Russia of oil and gas revenues. The State of Qatar is investing tens of billions of dollars in order to increase production by almost two thirds in 2027. According to the Gulf Affairs Researcher of the European Commission on Foreign Relations, Sinzia Bianku, “what is happening in the world today is an important factor for Qatar to become a major exporter of liquefied natural gas”. According to Jim Cland, an energy policy researcher from the Baker Institute for Public Policy at the University of Les, “Qataris have gained more influence than anyone can imagine”, he added that they have “invested natural gas revenues in building soft power of all kinds”. 06 Reuters: China's energy giant and Qatar In-depth negotiations on the gas deal According to Reuters sources, the Chinese State-owned energy giant is negotiating in depth with Qatar to invest in the world's largest liquefied natural gas project, the expansion of the North Field and the conclusion of long-term energy purchase contracts. Figure: Liquefied natural gas cruises in Qatar (information picture) Data from the provider of financial market data, Refinitiv Eikon, show that in 2021 China imported about 900 million tons of liquefied natural gas from Qatar, representing 11 per cent of total imports. In 2021, China's imports of liquefied natural gas accounted for 45 per cent of domestic demand.In the first five months of 2022, Qatar became the largest supplier of liquefied natural gas to China after Australia. If successful, this will be the first partnership in this area between Qatar, the largest global producer of liquefied natural gas, and China, the largest importer. According to Reuters, three insiders expected to buy 5 per cent of the Northfield expansion project, with a total value of nearly $30 billion, respectively. One of them pointed out that “even with small equity, Chinese can be directly involved in this highly globalized project and learn their managerial and operational expertise”. The Northside expansion project, which includes six LNG production lines, will increase Qatar's liquefied capacity from 77 million tonnes/year to 126 million tonnes/year by 2027, consolidating its position as the world's largest LNG producer. According to sources, Qatar considers each LNG production line to be a separate joint venture in which oil and petrochemicals will each be involved in investment. The source also indicated to Reuters that since the share ratio is small, China is more involved in the project as a financial investor, “the key is the negotiation of a long price for natural gas.” Sino-oil officials claim that he has nothing to offer. Qatar Energy has not responded to Reuters’s request for comments. Reuters analyses that if a gas supply agreement is reached, Qatar will help China to cushion spot price volatility and improve import diversification. China’s trade with the two major suppliers to date, the US and Australia, is strained, while another supplier, Russia, is at war and faces extensive sanctions. Summing up The Russian-Ukraine conflict has not only been a military conflict, but has also brought about a dramatic change in the pattern of the world. There are indications that the conflict is slowly collapsing the hegemonic position of the United States dollar and that, with the end of the Russian-Ukraine war, a new world order may appear before the world in an irreversible trend.


Note: This is a machine translated version of the Chinese news media article. A mature and nuanced reading is suggested.



Trending News

What China Reads


Russia


2022-06-24: [Article Link Author: Niko “It is not just the summers that make European leaders sweat, but also the natural gas supplies lost in Europe under Russian manipulation.” Associated Press reports. According to the Al Jazeera website (ALJAZEERA) on 22 June, last week Russia cut gas supplies to five EU countries, including Germany, the largest economy of the 27 EU member States, and was also a country heavily dependent on Russian gas for electricity generation and energy production. There have also been successive supply cuts in Austria, the Czech Republic and Slovakia. Prior to that, Russia had shut down natural gas supplies to Poland, Bulgaria, Denmark, Finland, France and the Netherlands in recent weeks. Initially, the EU did not care about its “gas attack”, after all, Poland intended to phase out Russian gas by the end of the year, while other countries had alternative supplies. However, the recent natural gas combination has left the largest European Union economies, led by Germany, with 35 per cent and 40 per cent of Italian natural gas imported into Russia. The German Deputy Prime Minister and Minister of Economy and Climate Protection, Harbeck, stated that “headaches and heartaches”, and that Germany, which was heavily dependent on Russian gas, had to launch a `second-tier' alert, had little positive response and could only “accelerating the reduction of natural gas consumption in the short term” and even go back to the coal-fired era. In the face of gas disruption risks, Germany, Italy, Austria, and the Netherlands indicated this week that coal-fired power plants could help the continent survive the crisis. The German Ministry of Economy stressed that the restoration of coal-fired power plants could increase power capacity by up to 10 gigawatts if the supply of gas fell to critical levels, and a law related to this would be submitted to the upper house of Parliament on 8 July. 01 Russian “gas attack” According to the British Financial Times, the Russian gas company Gazprom will maintain gas pipeline No. 1 North Creek on an annual basis. The Russian energy giant, once again cutting off North Creek 1, one of Europe's most important natural gas pipelines, due to delays in maintenance operations, has been able to transport up to 67 million cubic metres per day through pipeline pumps since the evening of 16 June, meaning a reduction of about 60 per cent in two days. While Germany lost 60 per cent of its total gas supply, Italy also reduced its supply by half. In addition to direct supply restrictions, Russia had released financial incentives earlier, requiring European countries to use rubles for the purchase of natural gas. On 31 March, local time, President Putin announced the signing of the Gas Lube Settlement Order: Since 1 April, companies in “unfriendly countries and regions” must first open rubles in Russian banks and then pay rubles for Russian gas, otherwise they will be deemed to be in non-compliance with their obligations under the gas contract, and Russia will refuse to continue supplying them with gas. At the beginning of the financial sanctions in the United States and Europe, the rubles had fallen sharply as a result of the exclusion of a number of Russian banks from the international settlement system SWIFT and the freezing of foreign exchange reserves of some $300 billion. But after the natural gas ruble settlement, the rubles began to rise steadily and have returned to levels similar to those before the war, successfully deterring attempts by the United States and Europe to take advantage of the opportunity to crush Russian rubles. 02 Germany: Emergency gas-saving plan to launch Level 2 alert In the absence of immediate action, Germany is likely to experience a severe crisis of natural gas shortages this winter. Natural gas is not only an important source of energy for German residents to heat during the winter, but also an important source of energy for production and electricity for industrial industries. According to data published by the German Ministry of Economy, natural gas generated 15% of electricity in 2021. On 23 local time, the German Deputy Prime Minister and Minister of Economy and Climate Protection, Harback, issued a statement announcing Germany’s launch of the second phase of the gas emergency plan. Now that Germany is in a gas crisis, the Government will provide 15 billion euros in loans for gas reserves in preparation for the winter. In response to the shortage of natural gas, Germany announced an emergency plan at the end of March, divided into three phases: The first phase would be the “early warning phase”, in which Governments and energy suppliers would form crisis groups, but the State would not intervene by force, and gas suppliers, traders and operators would still be able to use market instruments to secure supply, but operators should ensure that gas reserves reached 80 per cent by October and 90 per cent by November; The second phase would be the “alert phase”, and the relevant legislation would be amended to give priority to natural gas for storage rather than power generation; The third phase will be an “emergency phase”, in which the State will intervene directly, the Federal Network Office of Energy Regulators will prioritize, and lower-priority industries and facilities will be “retarded” in order to guarantee the supply of gas in key industrial areas and in ordinary households. According to a report published on Sunday (19) by the German Energy Agency, the average reserves of German gas reserve facilities are currently 57%. The government requires that reserves be raised to 80% by 1 October and 90% by 1 November in order to address possible supply bottlenecks. Germany has done everything in its power to reduce dependence on Russian gas supplies. The first is the construction of liquefied natural gas reception stations to speed up the expansion of wind power and solar energy. But these projects take years to solve the emergency of this winter. In order to accelerate the reduction of natural gas consumption in the short term, a number of politicians and economic scholars have also proposed the provision of energy discounts or subsidies for the general population: The Director of the German Energy Agency, Klaus Müller, has even proposed the adoption of a law to limit the heating of private apartments — a proposal that has been widely criticized; The Minister of Economy, Harbeck, made it clear that legal measures to save energy as a result of the reduction in the supply of natural gas were not excluded; Harback also plans to introduce gas auctions in the summer to encourage industry to save gas consumption. Simply put, industrial enterprises that reduce the consumption of natural gas can be compensated financially for their savings, which will be set aside for the current winter. Even more irresistible is the fact that Germany, which has lost its natural gas supply, needs to invest more power stations, with a sense of technological regression. Germany will boost its natural gas reserves by launching additional coal-fired power generation, replacing the current ones, and the relevant legislation is expected to be adopted on 8 July. Immediately after Germany, the Dutch government has also indicated that coal-fired power plants will be allowed to operate again at full capacity to save natural gas for electricity generation. In response, the Minister of Economy, Harback, said that he was “convicted” and that this was “necessary in order to reduce the consumption of natural gas.” At the same time, he called on the back-up coal power plant to be ready for production as soon as possible. 03 Why is the EU worried? Prior to the outbreak of the war between Russia and Ukraine, the European Union had received nearly 40 per cent of its gas demand from Russia, and it had plans to reduce imports by two thirds by the end of the year and to rid itself of Russian gas by 2027. The immediate challenge, however, is that if Russia completely shuts down its gas supply, Europe will not be able to acquire all the fuel needed for the winter of 2022. In addition, it will have a negative impact on many energy-intensive industries, thereby slowing down the European economy and severely affecting natural gas power generation facilities. At present, nearly 57 per cent of underground air holes in Europe are filled with natural gas, while the European Commission has recommended that each member State increase its filling rate to 80 per cent by 1 November of this year, while Germany has set itself a target of 80 per cent by 1 October and 90 per cent by 1 November. However, analysts at the Brugell Research Centre in Brussels, the capital of Belgium, warned that if Bulgaria, Hungary and Romania continued to develop at the current pace, those countries would not be able to meet the EU target of 80 per cent, and that if Russia stopped supplying natural gas, Germany, Austria and Slovakia would also find it difficult to achieve that goal. Europeans are unlikely to fall into darkness this winter, as EU law requires member Governments to provide quantitative supplies of gas for industry in order to maintain the gas demand for households, schools and hospitals. Inevitably, however, industrial cuts and closures will affect employment at the expense of economic development, which already suffers from high inflation, and will also raise external concerns about the global recession, especially when central banks raise interest rates sharply. In addition, a complete cut in the supply of natural gas in Russia could lead to a record increase in the cost of electricity production. 04 Russian gas may be transferred to China, India. According to the British Financial Times, the solution for Russia’s oil industry lies in the diversion of energy destinations. Citing Konstantin Simonov, President of the Russian National Energy Security Foundation, the report states that if Russia’s energy resources are excluded from the European market, such production will occur in countries like India and China. The shift of Russian energy exports from Europe to Asia would be a complex process, given the lack of adequate maritime export capacity, and the possibility that the European Union and the United Kingdom could impose an insurance ban on vessels transporting Russian crude oil, thereby also limiting such maritime activities. Michael Moinian, Russian expert in oil and gas exploration for the consulting firm Wood Mackenzie, stated that, despite all the sanctions, it was possible to achieve the required growth in the oil industry and to make everything possible, although that would not be demonstrated in the foreseeable future. According to the Financial Times, the situation of Gazprom will be very difficult given that all Gazprom infrastructure is connected to Europe and that there are no pipeline facilities linking its production areas to the eastern part of Russia and to China. Since December 2019, however, the “Siberian Power 1” gas pipeline has been in operation between China and Russia. This pipeline could bring gas from the Russian Kovicta gas field in Irkutsk and Chayanda gas field in Yakut directly to China. The Russian-Chinese gas pipeline via the Mongolian “Siberian Power 2” has also been on the agenda as early as last year, and is already in the field survey phase. With the opening of the pipeline, it is expected that about 50 billion cubic metres of gas will be delivered annually to China, almost equal to the Russian-German gas pipeline “North Creek 2” to cover Russia’s losses in Europe. Russia hopes to become China's largest gas supplier, accounting for more than 25 per cent of China's natural gas imports by 2035. In 2014, the Russian Gas and China Oil and Gas Group Corporation signed a 30-year contract for the supply of gas. The $400 billion agreement was the largest deal ever made by Russian gas, and the “Siberian Power” gas pipeline was the first gas pipeline between Russia and China. China's customs data also show that China imported 400,000 tons of Russian liquefied natural gas in May this year, an increase of 56 per cent over its imports in May last year. In the first five months of this year, China increased its imports of liquefied natural gas from Russia by 22 per cent on a year-on-year basis, reaching 1.84 million tons, mainly from the Sakhalin II project and the Yamal Liquefied Natural Gas Company in the Arctic. 05 The Russian-European Gas War, Qatar. At a time when the United States and Europe were trying to deprive Russia of oil and gas revenues, Western countries hoped that Qatar would help fill the shortages resulting from the deprivation of those supplies. One of the liquefied natural gas stations in the State of Qatar (Qatar Media) Over the past 25 years, Qatar had been responsible for providing increasing amounts of natural gas to many customers around the world, generating huge gains and gaining geopolitical importance. The war in Ukraine could increase the influence of Qatar, which provided those countries with an appropriate alternative to fuel for heating, cooking and electricity generation at a time when the United States and its European allies were trying to deprive Russia of oil and gas revenues. The State of Qatar is investing tens of billions of dollars in order to increase production by almost two thirds in 2027. According to the Gulf Affairs Researcher of the European Commission on Foreign Relations, Sinzia Bianku, “what is happening in the world today is an important factor for Qatar to become a major exporter of liquefied natural gas”. According to Jim Cland, an energy policy researcher from the Baker Institute for Public Policy at the University of Les, “Qataris have gained more influence than anyone can imagine”, he added that they have “invested natural gas revenues in building soft power of all kinds”. 06 Reuters: China's energy giant and Qatar In-depth negotiations on the gas deal According to Reuters sources, the Chinese State-owned energy giant is negotiating in depth with Qatar to invest in the world's largest liquefied natural gas project, the expansion of the North Field and the conclusion of long-term energy purchase contracts. Figure: Liquefied natural gas cruises in Qatar (information picture) Data from the provider of financial market data, Refinitiv Eikon, show that in 2021 China imported about 900 million tons of liquefied natural gas from Qatar, representing 11 per cent of total imports. In 2021, China's imports of liquefied natural gas accounted for 45 per cent of domestic demand.In the first five months of 2022, Qatar became the largest supplier of liquefied natural gas to China after Australia. If successful, this will be the first partnership in this area between Qatar, the largest global producer of liquefied natural gas, and China, the largest importer. According to Reuters, three insiders expected to buy 5 per cent of the Northfield expansion project, with a total value of nearly $30 billion, respectively. One of them pointed out that “even with small equity, Chinese can be directly involved in this highly globalized project and learn their managerial and operational expertise”. The Northside expansion project, which includes six LNG production lines, will increase Qatar's liquefied capacity from 77 million tonnes/year to 126 million tonnes/year by 2027, consolidating its position as the world's largest LNG producer. According to sources, Qatar considers each LNG production line to be a separate joint venture in which oil and petrochemicals will each be involved in investment. The source also indicated to Reuters that since the share ratio is small, China is more involved in the project as a financial investor, “the key is the negotiation of a long price for natural gas.” Sino-oil officials claim that he has nothing to offer. Qatar Energy has not responded to Reuters’s request for comments. Reuters analyses that if a gas supply agreement is reached, Qatar will help China to cushion spot price volatility and improve import diversification. China’s trade with the two major suppliers to date, the US and Australia, is strained, while another supplier, Russia, is at war and faces extensive sanctions. Summing up The Russian-Ukraine conflict has not only been a military conflict, but has also brought about a dramatic change in the pattern of the world. There are indications that the conflict is slowly collapsing the hegemonic position of the United States dollar and that, with the end of the Russian-Ukraine war, a new world order may appear before the world in an irreversible trend.

Note: This is a translated version of the Chinese news media article. A mature and nuanced reading is suggested.

Recent related articles

World Weekly丨The domestic crisis is heavy, but the United States uses hegemony to cover it up

2022-08-08: The U.S. uses hegemony to cover it up. Original title: World Weekly: Domestic crisis, America using hegemony to cover it up. Recently, the economy of the United States emerged in the new quarter, with GDP falling by 0.9% per year in the second quarter, contracting again after 1.6% year-on-year…

Sohu Finance and Real Estate Weekly: Henan will implement "delivery certificate upon delivery" from next year; Evergrande will return the Guangzhou football field plot

2022-08-07: From the beginning of next year, we're going to launch the "Kinding House is Handover" project, and we're going to return the Guangzhou football field to Guangzhou. A review of the size of the estate during the week (7.31-8.06). This week, we see the following: a working session of the Central…

Early morning internal reference: 28 large and medium-sized cities have an average housing vacancy rate of 12 percent, the lowest in Shenzhen, Beijing and Shanghai

2022-08-08: [Advanced in the morning] Customs Department: The total value of our foreign trade exports and imports in the previous seven months was $23.6 trillion, an increase of 10.4 per cent over the same period; prices were set at a minimum of not more than 300 Yuan per bottle of Covid-19 oral medicine;…

Completely privatized, Zelensky is ready to sell the bottom - nowhere

2022-08-08: Ukraine lives to tell the world what it means to sell arms to the black market, to sell intelligence to Russia and Belarus, and to sell the life of the country to those in power. In the past, Ukrainian girls used to go to different countries to earn foreign exchange in special industries, but they…

More than 3,000 media around the world intensively forwarded! The voice of the head office continues to declare China's position-News Channel-Hexun.com

2022-08-07: In response to the visit of the Speaker of the United States Congress, Pelosi, to the Taiwan region of China, on 2 August, many people pointed out that the visit of Pelosi to the Taiwan region of China constituted a serious violation of China's sovereignty and territorial integrity and a serious…

The People's Liberation Army added the Yellow Sea and Bohai Navy exercises to the Taiwan military exercise and issued a disciplinary order to Japan

2022-08-07: At a time when the military performance by the Liberation Army on the Taiwan Rim Islands had not been completed since 4 August, the China Maritime Bureau website indicated that on the evening of 5 August, the Cloud Harbour Maritime Department issued a "aviation warning" and that from 6 to 15…

More than 3,000 media around the world intensively forwarded! The voice of the main station continues to declare China's position

2022-08-07: In response to the visit of the Speaker of the United States Congress, Pelosi, to the Taiwan region of China, on 2 August, many people pointed out that the visit of Pelosi to the Taiwan region of China constituted a serious violation of China's sovereignty and territorial integrity and a serious…

Depth:Liu Hongliang: Can India's national defense localization, which has not been completed for 75 years, still work?

2022-08-07: Summary After independence, India has been promoting the localization of the defense industry. After Modi’s administration, it was guided by a policy of “Indian manufacturing” and “Indian self-reliance” to create a list of defence products that are prohibited from being imported, promote defence…
Recent related articles

World Weekly丨The domestic crisis is heavy, but the United States uses hegemony to cover it up

2022-08-08: The U.S. uses hegemony to cover it up. Original title: World Weekly: Domestic crisis, America using hegemony to cover it up. Recently, the economy of the United States emerged in the new quarter, with GDP falling by 0.9% per year in the second quarter, contracting again after 1.6% year-on-year…

Sohu Finance and Real Estate Weekly: Henan will implement "delivery certificate upon delivery" from next year; Evergrande will return the Guangzhou football field plot

2022-08-07: From the beginning of next year, we're going to launch the "Kinding House is Handover" project, and we're going to return the Guangzhou football field to Guangzhou. A review of the size of the estate during the week (7.31-8.06). This week, we see the following: a working session of the Central…

Early morning internal reference: 28 large and medium-sized cities have an average housing vacancy rate of 12 percent, the lowest in Shenzhen, Beijing and Shanghai

2022-08-08: [Advanced in the morning] Customs Department: The total value of our foreign trade exports and imports in the previous seven months was $23.6 trillion, an increase of 10.4 per cent over the same period; prices were set at a minimum of not more than 300 Yuan per bottle of Covid-19 oral medicine;…

Completely privatized, Zelensky is ready to sell the bottom - nowhere

2022-08-08: Ukraine lives to tell the world what it means to sell arms to the black market, to sell intelligence to Russia and Belarus, and to sell the life of the country to those in power. In the past, Ukrainian girls used to go to different countries to earn foreign exchange in special industries, but they…

More than 3,000 media around the world intensively forwarded! The voice of the head office continues to declare China's position-News Channel-Hexun.com

2022-08-07: In response to the visit of the Speaker of the United States Congress, Pelosi, to the Taiwan region of China, on 2 August, many people pointed out that the visit of Pelosi to the Taiwan region of China constituted a serious violation of China's sovereignty and territorial integrity and a serious…

The People's Liberation Army added the Yellow Sea and Bohai Navy exercises to the Taiwan military exercise and issued a disciplinary order to Japan

2022-08-07: At a time when the military performance by the Liberation Army on the Taiwan Rim Islands had not been completed since 4 August, the China Maritime Bureau website indicated that on the evening of 5 August, the Cloud Harbour Maritime Department issued a "aviation warning" and that from 6 to 15…

More than 3,000 media around the world intensively forwarded! The voice of the main station continues to declare China's position

2022-08-07: In response to the visit of the Speaker of the United States Congress, Pelosi, to the Taiwan region of China, on 2 August, many people pointed out that the visit of Pelosi to the Taiwan region of China constituted a serious violation of China's sovereignty and territorial integrity and a serious…

Depth:Liu Hongliang: Can India's national defense localization, which has not been completed for 75 years, still work?

2022-08-07: Summary After independence, India has been promoting the localization of the defense industry. After Modi’s administration, it was guided by a policy of “Indian manufacturing” and “Indian self-reliance” to create a list of defence products that are prohibited from being imported, promote defence…