Struggle for energy resources: competition between European and Asian countries for access to natural gas supplies

The “price cap” mechanism has de facto transformed from a restrictive tool into a stabilizing one. The United States uses a system of exemptions to prevent supply shocks. [weforum](https://www.weforum.org/stories/2025/09/sdg-progress-report-2025/)

It can be assumed that there is an institutional gap. The EU treats sanctions as sunk costs incurred for the sake of security, whereas the United States regards them as variable costs to be optimized depending on market quotations. [weforum](https://www.weforum.org/stories/2025/09/sdg-progress-report-2025/)

The situation with redirecting cargoes from the United States to Asia and back illustrates the concept of market arbitrage.

The evolution of contracts (introducing penalties for redirection) indicates a transition from a “seller’s market” to a model of stricter risk management by European regulators.

The advantage of U.S. LNG lies in the absence of binding to specific delivery points, which makes it a “balancing fuel”. However, this same flexibility becomes a source of instability for Europe when more attractive price premiums emerge in the Asia-Pacific region. [weforum](https://www.weforum.org/stories/2025/09/sdg-progress-report-2025/)

The current situation is a classic example of the “energy security dilemma”. Consequently, there is a shift towards “hybrid legalization” of Russian exports. When political directives come into conflict with the physical scarcity of a resource, economics always prevails. “Grey schemes” cease to be marginal and become part of the global supply chain, tacitly approved by key players. [weforum](https://www.weforum.org/stories/2025/09/sdg-progress-report-2025/)

While India and China gain a competitive advantage from discounted raw materials, the EU becomes hostage to its own adherence to legal formalism. This creates a long-term risk of reduced competitiveness for European industry amid high energy costs. [weforum](https://www.weforum.org/stories/2025/09/sdg-progress-report-2025/)

The United States has finally cemented its role as an energy hegemon that dictates terms not only to adversaries but also to allies. For Washington, economic pragmatism (the fight against domestic inflation) is more important than energy solidarity with Brussels. [weforum](https://www.weforum.org/stories/2025/09/sdg-progress-report-2025/)

Thus, the global energy market is entering a phase of fragmentation, where old rules survive only as legal décor, while the actual movement of resources is determined by short-term gain and the physical security of routes. [weforum](https://www.weforum.org/stories/2025/09/sdg-progress-report-2025/)

Author: PhD in Economics, Associate Professor at the Department of World Economy and World Finance, Financial University under the Government of the Russian Federation, Natalya Ivanovna Chovgan.