James Kneebone

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Amid global energy disruption, the EU’s pledge to procure US oil, LNG, and nuclear energy products worth $750 billion by 2028 is a strategic response to lessen reliance on Russian fossil fuels through diversifying its sources and increasing its energy security. by-studio / Shutterstock

Why Europe can still face a gas crisis without a gas shortage

Marzia Sesini, European University Institute and James Kneebone, ETH Zurich

A gas crisis could challenge Europe next winter if its gas reserves are not replenished. The phaseout of Russian gas and LNG by late 2027 is a major part of the EU’s gas diversification strategy but it exposes the continent to price volatility.

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