A rapidly evolving global energy landscape has shaped international relations in recent years. China’s foreign policy has also been adapting to the changes as energy security and cooperation become an increasingly important part of the country’s economic and diplomatic agenda.
Buyers in China are seen to be more cautious on energy trade and investment with Russia since its invasion of Ukraine, with some halting or reducing purchases while others opt to use a third party.
Most gas used in Finland comes from Russia but gas only accounts for about 5 per cent of the Scandinavian country’s annual energy consumption.
‘Rocky times ahead’ for Sino-Japanese ties, analyst warns, with countering China also believed to be high on Biden’s agenda during Tokyo visit.
Fabricators received notifications to halt work on modules by the end of this month, according to industry publication.
China remains a stable buyer of Russian oil and unlikely to join Western sanctions, analyst says.
The Finnish electricity network operator says it will be able to make do without Russian power with help from Sweden and Norway.
The president said the penalties were fomenting a global crisis that would whiplash against the EU and trigger famine for some of the world’s poorest nations.
Ukraine’s operator blamed Moscow’s occupying forces for its move to stop sending fuel via Sokhranivka, one of two key entry points.
China’s experience could offer lessons but Hanoi remains wary of involving Chinese investors in projects deemed crucial to national security.
Russia’s leader said that his military would not hesitate to use the most modern weaponry: ‘We have all the tools for this’.
Bulgaria has accused Russia of abusing its gas exports as an economic and political weapon, and says it ‘will not negotiate under pressure’.
Talks meant to ease speculation about China’s oil purchases, analyst says.
Russia’s president has demanded that demanded that EU countries pay for deliveries of Russian gas in roubles in future.
Russia has been useful for Japan’s energy security especially after 2011 when it moved away from nuclear power. But where Tokyo once drew a line at weaning itself off Russian fuel, it now faces a reckoning.
Asia’s fourth-largest economy is gearing up for supply shocks even though Russia is not its biggest energy supplier. An analyst says it’s desirable for Seoul to keep the door open to Russian energy.
Asia’s economies will have to compete with the EU for LNG supplies from the Gulf and the US. Fears are growing of the knock-on effect on economic growth, political stability and climate change.
A belt tightening deal with the IMF has prompted Buenos Aires to ask Beijing to rework February agreement that has Argentina picking up 15 per cent of the bill.
Finance Minister Christian Lindner says Germany must end economic ties to Moscow and plan tough sanctions ‘but gas cannot be substituted in short term, would inflict more damage on ourselves than on them’.
While Chinese firms may take measures to avoid running afoul of US sanctions, overall China-Russia trade should remain strong because most products will not be affected.
Almost a fifth of the world’s gas power capacity under construction and a tenth of the planned capacity are in China, San Francisco-based non-profit research organisation Global Energy Monitor said last week.
The state-run group has suspended talks for a major petrochemical investment and a gas marketing venture, amid mounting sanctions over the invasion of Ukraine.
The US president, in Europe for talks with allies, said he had reminded Xi Jinping of the economic dynamic, including how many Western companies have pulled out of Russia, during their ‘very straightforward conversation’ last week.
Europe’s dependence on Russian gas has been thrown under the spotlight amid Western sanctions over Moscow’s invasion of Ukraine.
China’s 14th five-year plan for energy stresses independence and import diversification, but cooperation with Russia is tipped to grow following international isolation over its invasion of Ukraine.
Nations replacing Russian energy supplies may fuel world’s ‘mutually assured destruction’ says UN Secretary-General Antonio Guterres.
Most countries will face headwinds in two ways: higher commodity prices and therefore sustained inflation, and slower demand for manufactured goods from troubled economies like Europe.