Europe's gas security conundrum
Central Asian countries are eager to pick up the slack, if sanctions hit Russian pipeline supply to Europe
Beefed up US sanctions against Russia are hampering Gazprom's plans to send more gas to Europe, potentially paving the way for Russia's rivals in the Caspian region—and the US—to muscle in. It's an area of uncertainty that European leaders need to resolve one way or another quickly. The European Union is going to need to import a lot more gas in the short-to medium-term, even allowing for the greening of economies, given the gradual dwindling of North Sea supply. The EU's PRIMES model, published last year, predicts a steady climb in net gas imports, rising from around 310bn cubic metres (or 73% of gross inland gas consumption) in 2020 to 328bn cm (80%) in 2030 and 360bn cm (88%) in 2050. Whi
Also in this section
29 April 2026
Trafigura’s $1b prepayment agreement confirms African resource holders’ renewed interest in oil-backed financing deals as they look to capitalise on high oil prices
29 April 2026
The UAE’s departure from the oil producers’ group was a surprise to many, but the move can be traced back to a single point five years ago
28 April 2026
Oil traders warning of $200/bl oil are wrong, and the market should be wary of proclamations that the impact of the oil shortage has only begun to be felt and a that a ‘harsh adjustment’ is coming—even for industrialised nations
28 April 2026
Restoring supply from Saudi Arabia, the UAE, Kuwait, Qatar, Bahrain and Iraq involves complexities far beyond simply adjusting operational controls
