Europe is highly dependent on Russian gas
Europe still hooked on Russian gas
LNG alone will not be enough to guarantee Europe’s energy security, and the continent may face demand destruction, analysts agree
Europe has seen no shortfalls in contracted Russian gas supplies and no significant drop in flows as a result of the war in Ukraine as yet, says Trevor Sikorski, head of natural gas and carbon research at consultancy Energy Aspects. And there is little optimism that Europe has many options but to continue to flow Russian gas unless either the Kremlin halts deliveries or European public opinion grows for major economic and lifestyle sacrifice. High spot prices continue to incentivise nominations, and the Nord Stream 1 pipeline is flowing normally, although flows on the Yamal-Europe route through Belarus and Poland remain low. The gas markets have priced in the risk of supply being reduced, as
Also in this section
1 August 2025
A number of companies have filed arbitration claims against Gazprom over non-deliveries of contracted gas or other matters—and won. The next step is to collect the award; this is no easy task but it can be done thanks to an international legal framework under the New York Convention.
1 August 2025
Europe’s refining sector is desperately trying to adapt to a shifting global energy landscape and nowhere is this more apparent than in its largest economy
1 August 2025
The Middle East natural gas playbook is being rewritten. The fuel source offers the region a pathway to a cleaner, sustainable and affordable means of local power, to fasttrack economic development and as a lucrative opportunity to better monetise its energy resources.
31 July 2025
TotalEnergies is an outlier among other majors for remaining committed to low-carbon investments while continuing to replenish and expand its ample oil and gas portfolio, with an appetite for high risk/high return projects.
