SOURCE: Industrial Info Resources
May 30, 2014 06:15 ET
SUGAR LAND, TX--(Marketwired - May 30, 2014) - Researched by Industrial Info Resources (Sugar Land, Texas) -- It's an understatement to say that May has been an interesting month for the global natural gas markets, and it's worthwhile to have a quick look at some of the events that have happened. The big news, obviously, is the signing of the $400 billion contract for Russia to supply up to 38 billion cubic meters per year of natural gas to China.
As Europe seeks to wean itself off of reliance on Russian natural gas, the move makes economic and political sense for the two superpowers, although the ramifications for other natural gas and LNG producers throughout the world remain up in the air. While the deal between the two countries is gargantuan, the volume of gas remains less than 25% of what Russia delivered to Europe in 2013.
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