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Brookings: Ukraine Crisis Impact on European Gas Market

Brookings offers a policy brief : "Ongoing turmoil in Ukraine has once again sparked debate about European energy dependence on Russia. That debate is not new and has been revitalized repeatedly since the first major supply disruption in 2006, which took place after several decades of fairly stable supplies. This new Brookings report, “Business As Usual: European Gas Market Functioning in Times of Turmoil and Increasing Import Dependence ,” assesses whether the often expressed desire to move away from using Russian natural gas will in fact happen."  

Key findings include:

  • "In the short to medium term, the lack of market development and integration in Central and Eastern Europe continues to be problematic."
  • "Russian natural gas will be very competitive in Europe."
  • "There is no evidence that supply alternatives will be transformative in the European gas supply mix in the near future."
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