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Thread: Russia and China Deal

  1. #1
    Cricketer Of The Year Agent Nationaux's Avatar
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    Russia and China Deal

    Russia and China have signed a 30 year gas deal worth $400bn. They have also agreed to deal in local currencies and bypass the dollar.

    Russia signs 30-year deal worth $400bn to deliver gas to China | World news | theguardian.com

    Russia, China sign deal to bypass U.S. dollar | Al Jazeera America

    The Chinese have managed to get it at a cheaper price than what the Russians wanted.

    In addition, the Russians will also be helping the Chinese develop a long distance Airliner to compete with Airbus and Boeing.

    Putin looks to improve China relations amid rising tensions with the west | World news | theguardian.com

    It will be interesting to see how Europe and the US react to this.
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    International Coach social's Avatar
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    Cant imagine that there will be any reaction whatsoever as both countries are major players in the world's energy markets and transact with many western countries on a daily basis


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    Cricketer Of The Year Agent Nationaux's Avatar
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    My worry is about gas prices going up.

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    Cricket Web Staff Member Burgey's Avatar
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    I don't know that this is a good development for the Australian gas industry, which I think was hoping to supply a lot to China. But I don't really know a great deal about that industry tbh, other than there's about to be about a 30% rise in domestic gas prices in Australia.
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    International Coach social's Avatar
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    Quote Originally Posted by Burgey View Post
    I don't know that this is a good development for the Australian gas industry, which I think was hoping to supply a lot to China. But I don't really know a great deal about that industry tbh, other than there's about to be about a 30% rise in domestic gas prices in Australia.
    Australian gas companies sell every square foot of LNG that they produce on long term contracts to countries like China, Japan, Korea and Taiwan e.g. Woodside is on track to become one of the world's largest producers but does not have any surplus gas available for at least 15 years

    Typical gas contract is 20-30 years as long-term contracts are required as security for the massive investment required to build liquefaction plants, etc

    In summary, this is nothing unusual
    Last edited by social; 26-05-2014 at 06:54 PM.

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    Cricket Web Staff Member Burgey's Avatar
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    Cheers. Appreciate that.

    If it was something potentially bad for Australia, I was going to blame the Carbon Tax.

  9. #9
    International Coach social's Avatar
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    The age-old issue facing Australia energy consumers is that all energy production in this country is in the hands of the private sector and they are naturally going to sell to the highest bidder.

    On the plus side, the Oz government collects a royalty (typically 7%) on sales and is not responsible for funding the well/mine/etc.

    Therefore, we should be compensated for high energy prices by cheaper/better services funded by these royalties

    Sounds good in theory anyway

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    Cricket Web: All-Time Legend smalishah84's Avatar
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    Quote Originally Posted by Agent Nationaux View Post
    Russia and China have signed a 30 year gas deal worth $400bn. They have also agreed to deal in local currencies and bypass the dollar.

    Russia signs 30-year deal worth $400bn to deliver gas to China | World news | theguardian.com

    Russia, China sign deal to bypass U.S. dollar | Al Jazeera America

    The Chinese have managed to get it at a cheaper price than what the Russians wanted.

    In addition, the Russians will also be helping the Chinese develop a long distance Airliner to compete with Airbus and Boeing.

    Putin looks to improve China relations amid rising tensions with the west | World news | theguardian.com

    It will be interesting to see how Europe and the US react to this.
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  11. #11
    School Boy/Girl Captain auditor's Avatar
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    Dollar gets more russian ruble. The cost of gas will increase.



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