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Russian Gas Stoppages Spur Europe’s Race for New Energy Supplies

Georgi Kantchev, Joe Wallace, and Matthew Dalton write in The Wall Street Journal on Europe’s energy supplies.

The C3 Take
  • Russia has cut off gas supply to Poland and Bulgaria in the latest round of energy warfare in Europe.
  • Countries in the EU are scrambling to diversify their supply of energy, looking to Sweden, North Africa, and the U.S.
  • The European Commission expects that its reserve supply of natural gas will hit 80% capacity by this winter and will continue to cut ties with Russia.
  • As the situation in Europe highlights, it is essential to have reliable, affordable, and secure energy to protect national and economic interests.

“For Moscow, the decision to throttle gas flows to Poland and Bulgaria is a high-risk gamble that could undermine one of main supports of Russia’s embattled economy. Oil and gas sales provide around 40% of the Russian government’s revenues. The EU is Russia’s main gas market.”

Read the full article here.

The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.

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