“China’s deal with Russia could put downward pressure on LNG prices in East Asia, where they are generally the highest in the world. Unlike oil, which is sold on a global market, the market for LNG is regional. The deal between Gazprom and CNPC is rumored to be between $10 to $10.50 per million Btu, which is almost 25% cheaper than the current $13 spot price in Asia. As Reuters suggests, the relative bargain that China won from Gazprom means that other countries like Japan and South Korea might not have to pay as high prices. This could spell bad news for Canada and the U.S., which are eager to capitalize on high Asian gas prices by exporting their surplus gas.”
http://cryopolitics.com/2014/06/25/china-russia-gas-deal-creates-arctic-winners-and-losers/
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