No cheap LNG Prices for France

FROM AFP ( French) NEWS, ?Minister for the Economy Le Maire has asked the US administration to get LNG at a cheaper price.

Biden is NOT in control of where American gas flows and how much it costs outside of the USA. And of all people, the Minister for the Economy of France should know that.

The United States government does not own suppliers of gas. Not only are there no state-owned companies, but there are also very few American private companies there.

Ironically it is a French company TotalEnergies that has long-term contracts with American gas producer Freeport LNG. If anything, Le Mair should ask TotalEnergies to reduce prices.

But the paradoxical part about Le Maire's statement is that it was the record high prices that ensured the influx of additional LNG volumes in 2022 to France. If the prices of LNG for some magical reason drop, the LNG traders will redirect the?flow to China where the profits?are higher.

?Not only France, but Germany as well are stuck in a vicious cycle of high LNG prices / sufficient gas supplies. This problem unfortunately?will not go away within the next 5 years, no matter what the politicians say.?