Outlook 2024: Europe’s pivot from Russian gas
Energy crisis leads to supply diversification
Russia’s invasion of Ukraine triggered an era of energy insecurity that has been felt acutely in the EU and rippled across the globe. Long the dominant supplier of natural gas to the 27 countries in the EU, Russia’s gas is closer and cheaper than many other options for Europe, despite some geopolitical trade-offs. While some called for diversification from Russian gas long before the invasion, geopolitical turmoil accelerated that movement and sparked deep uncertainty around the continent’s gas supply amid a transition to new sources that could see Russia’s role forever altered. Over decades, Russia built sprawling infrastructure to transport its gas from often-remote gas fields to populatio
Also in this section
16 September 2024
The third part of our fourth chapter on the history of oil takes the story of gas to the present day with the rise of LNG and the creation of a truly global market
16 September 2024
Gas is difficult to move compared with oil, requiring additional infrastructure. The second part of our history of gas examines how expanding pipeline networks made it possible to monetise the fuel
16 September 2024
The first part of our fourth chapter on the history of oil looks at the origins of gas and LNG—once considered a nuisance, now a fuel of the future
13 September 2024
The Ukraine–Russia gas transit and interconnection agreements are due to expire at the end of this year, but despite some uncertainty, Europe seems well-prepared
