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
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
1 April 2026
The US-Iran conflict demonstrates the need for diversification in several senses of the word. It also exposes the limits of Washington applying pressure on major oil and gas producers it considers geopolitical adversaries
31 March 2026
Disappointing results in its bidding round are a reality check for Libya, and global exploration generally
