Gas Supply Shock: Grappling with the end of Russian Deliveries
Editorial 15 January 2025The end of Russian gas supplies through Ukraine, starting January 1, 2025, marks a crucial turning point for the European Union, which is now more compelled than ever to strengthen the diversification of energy sources. Over the past two years, European countries have significantly increased imports of liquefied natural gas (LNG) from the United States and Qatar, while establishing new partnerships with Algeria, Norway, and Azerbaijan. However, the Russian cutoff has intensified pressure on gas prices, raising concerns about the continent’s economic stability, already strained by energy inflation. To address the crisis, the EU is accelerating the implementation of infrastructure projects, such as new regasification terminals and interconnectors, alongside substantial investments in renewables. The REPowerEU strategy, a cornerstone of the energy transition, is now more critical than ever to ensure energy independence, reduce reliance on fossil fuels, and build a more sustainable and secure energy system. Europe, therefore, is called upon to turn this crisis into an opportunity for innovation and cohesion.