In 2020 IENE introduced its series of Fact Sheets which aim to present in a comprehensive yet concise manner a broad range of subjects related to the energy sector in SE Europe. Following the publication in April 2020 of its latest Fact Sheet on SEE Electricity, today the Institute present its new Fact Sheet which deals with Gas Markets in Europe and the Russian-Ukraine Conflict.In 2020 IENE introduced its series of Fact Sheets which aim to present in a comprehensive yet concise manner a broad range of subjects related to the energy sector in SE Europe. Following the publication in April 2020 of its latest Fact Sheet on SEE Electricity, today the Institute present its new Fact Sheet which deals with Gas Markets in Europe and the Russian-Ukraine Conflict.
Following Russia’s invasion in Ukraine on February 24, the European Union is facing an unprecedented crisis as a result of its overdependence on Russia’s oil and gas imports. Almost 40% in average of European gas imports come from Russia and hence a decoupling from such high exposure is now becoming top priority for Brussels planners but also for most national governments. However, Europe is in a weak position to impose gas related sanctions, in order to deprive Russia from sizeable exports, causing a negative impact on its own economy. In this context, the EU has laid out some specific plans aimed at reducing fossil fuel imports from Russia. Read the whole Fact Sheet here.
