Gas and GeopoliticsTuesday 27 May 2014
China and Russia (represented by the Russian state oil major Gazprom) have signed a deal that will supply China with gas worth up to $400 billion over 30 years. Since Energy Live News and International Business Times have quoted my views, I thought I'd put up the full version, which goes like this:
For China the Gazprom deal solves an energy problem. For Russia, it solves a market problem: Russia needs to sell its energy sources somewhere, but has spoiled its traditional market among the European democracies to Russia’s south and west by applying economic and military coercion to Ukraine.
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