Europe to sacrifice Asia for fuel in a blink of an eye

Europe will not hesitate to sacrifice Asia amid the struggle for fuel

The EU countries will overcome the energy crisis on the eve of the new heating season only if they sacrifice their partners in Asia and take away their liquefied natural gas supplies.

Due to a sharp reduction in energy imports from Russia and the inability to agree on an increase in gas supplies after the explosions of three strings of Nord Stream gas systems, global markets will see a fierce struggle for LNG tankers, Bloomberg analysts believe.

The events of recent weeks have already led to a surge in energy prices and an increase in the cost of their transportation.

In an effort to ensure uninterrupted unloading of LNG tankers, Europe has stirred up uncertainty in the Asian energy sector. The survival of European consumers will largely depend on the level of demand for gas, which will be possible to reduce only if high prices cause the demand to decline.

In addition, the collective West will have to fight the East for LNG supplies. The confrontation will only become more intense in winter.

The current situation in the market of liquefied natural gas is as follows: those who can offer the highest price will get the fuel. This leaves poor countries, like Pakistan, for example, behind. Those countries are not in a position to close bids for energy supplies, but they need energy carriers no less than other buyers.

Many Asian countries already say that problems with LNG supplies have been getting stronger lately. Price growth is one of the reasons. Wealthy EU states can pay a lot more. As a result, suppliers send tankers to places where they can get a tangible profit.

Representatives for Pakistan, Bangladesh and even India have already reported problems with fuel supplies. They all said that they would not be able to pay the price that EU states can afford to pay.

The situation has not reached a critical point yet. The "critical point" may arrive very quickly, though can be passed very quickly.

The European Union may admit the existence of the problem at the level of official rhetoric, but EU officials already prefer not to highlight the problem too much.

In practice, EU governments will do everything to ensure energy supplies to their countries. As for other states, the EU will simply disregard their needs.

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Author`s name Anton Kulikov