China Snaps Up Half-Price Russian LNG as Europe Shuns Supplies

(Bloomberg) — China is lapping up liquefied natural gas shipments from Russia on the cheap.

The Sakhalin-2 LNG export plant in Russia’s Far East sold several shipments to China for delivery through December at nearly half the current spot price in a tender that closed earlier this week, according to traders with knowledge of the matter. Still, global rates have soared so much this year that the project can profit from those sales.