The future for gas in Europe
The Russia/ Ukraine crisis continues to have major repercussions on trade, financial, and energy relationships within the region and there is a growing sense of urgency in regard to enhancing Europe’s security of supply. With access to sufficiently diversified gas supplies and stronger infrastructure connectivity presented as two main pillars of Europe’s future gas strategy. There is also a need for Europe to attract new imports to replace falling domestic production.
Russia / Europe relationship
At the same time, major strategic shifts in Russia’s gas export policy are occurring. Russia has chosen to pivot to the East, with efforts to lock in export agreements with China intensifying. And the cancellation of South Stream reflects a major change in strategy towards Europe.
While existing contractual obligations make any immediate change in the Europe / Russia relationship unlikely, recent developments point to new challenges in the relationship between Europe and its major gas supplier.
The Energy Exchange upstream events and reports in the Europe are used by gas producers and traders as a key tool in understanding the future for gas in Europe and where to look to take advantage of this new reality.
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