The Pathway to Independence and Self-Sufficiency: Europe's Journey
Date & Time
Thursday, June 15, 2023, 11:45 AM - 12:35 PM
Paula Dobriansky Miguel Stilwell D'Andrade Maarten Wetselaar Lane Greene

Prior to the invasion of Ukraine, Russia fuelled and supplied a significant portion of Europe’s energy imports. In 2022, in response to the attack and as international sanctions mounted on Russian operations and businesses, continental Europe sought to break from its resource dependence through a combination of changes. First, a decline in the way Europe consumes natural gas, in part owed to a warmer 2022 and an increase in ‘green behavior’ as well as delivering on the EU plans to import more Liquified Natural Gas (LNG). Second, the fifth and sixth sanctions and the various embargos against Russian coal and crude oil imports. Finally, Europe faced changes in the rules surrounding energy exports imposed by the Kremlin. These measures meant oil supply from Russia could fall by up to 90 percent in 2023 from 2022 levels, however, Europe will contend with the challenges of its energy withdrawal for the remainder of 2023. Among them are the rising competition among LNG importers, the race to secure a stable gas supply, and another winter battling with a gas shortfall if it cannot be found. Who will replace Russia in Europe’s search for a stable source of imports? What state and non-state coordinated actions will access the world’s under-tapped energy markets require, without creating new dependencies? How can Europe gain competitive, secure, and sustainable strategic energy autonomy?