Has Europe cracked its energy-security problem?
The panic of previous years has abated, but the EU can still do more to help itself
A DECADE ago, energy security was – or seemed, in the context of energy-price inflation, bristling geopolitics and the tenacity of peak-oil theorists – an emergency. The tense, standoffish relationship between the energy-deficient EU and its main natural gas supplier, Russia, matched the Malthusian mood: commercial disputes between Russian gas monopoly Gazprom and Naftogaz, its Ukrainian counterpart, led to interruptions in Russian gas flows to Ukraine in 2006 and 2009. They happened in January, too, the coldest time of year. Both times, European customers suffered. The oil sector saw trouble too: during a pricing dispute between Russia and Belarus in 2007 – also in January – Russia stopped
Also in this section
20 February 2026
The country is pushing to increase production and expand key projects despite challenges including OPEC+ discipline and the limitations of its export infrastructure
20 February 2026
Europe has transformed into a global LNG demand powerhouse over the last few years, with the fuel continuing to play a key role in safeguarding the continent’s energy security, Carsten Poppinga, chief commercial officer at Uniper, tells Petroleum Economist
20 February 2026
Sempra Infrastructure’s vice president for marketing and commercial development, Carlos de la Vega, outlines progress across the company’s US Gulf Coast and Mexico Pacific Coast LNG portfolio, including construction at Port Arthur LNG, continued strong performance at Cameron LNG and development of ECA LNG
19 February 2026
US LNG exporter Cheniere Energy has grown its business rapidly since exporting its first cargo a decade ago. But Chief Commercial Officer Anatol Feygin tells Petroleum Economist that, as in the past, the company’s future expansion plans are anchored by high levels of contracted offtake, supporting predictable returns on investment
