Europe’s confidence on gas may be premature
The region has made significant progress on reducing exposure to Russian gas, but despite rosy assessments by politicians, challenges remain
An unusually warm winter has helped Europe reduce its gas consumption significantly while aggressive spending has allowed most of the continent to improve its LNG regasification and pipeline infrastructure. However, major uncertainties loom over planned supply increases and demand reductions alike, and it is much too early to claim Europe has weaned itself off its heavy dependence on Russian energy. “Today, one year after the war began, [Russian president Vladimir Putin] has already lost the energy war he started,” announced Ursula von der Leyen, the president of the European Commission, in mid-February. “With European unity and a smart energy policy, we have withstood Russian pressure and f
![](/images/white-fade.png)
Also in this section
26 July 2024
Oil majors play it safe amid unfavourable terms in latest oil and gas licensing bid rounds allowing Chinese low-ball moves
25 July 2024
Despite huge efforts by India’s government to accelerate crude production, India’s dependency shows no sign of easing
24 July 2024
Diesel and jet fuel supplies face a timebomb in just four years, and even gasoline may not be immune
23 July 2024
Rosneft’s Arctic megaproject is happening despite sanctions, a lack of foreign investment and OPEC+ restrictions. But it will take a long time for its colossal potential to be realised