The new energy map
Russia is expanding its gas pipeline to China, and the United States received its first Venezuelan oil exports in four years. Meanwhile, a hastily built terminal in Germany accepted its first shipment of U.S. gas. The Ukraine war has reshaped the global energy map, forcing Moscow to look east as Europe increasingly refuses its exports, and Washington to revive troubled relations with Caracas. Still, this energy diplomacy may have a short shelf life. Given China’s rapid investment in renewable energy, and the years-long build time of new gas pipelines, it may be that Moscow’s investment doesn’t pay off for long.
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