An Update on Europe’s Energy Crisis

It’s been nearly a year and a half since Russia invaded Ukraine, plunging Europe and the world into a protracted energy crisis. Since then, the brutal fighting in Ukraine has turned into a war of attrition, and energy prices have fallen from the staggering heights they reached in mid-2022. 

While the immediate crisis has faded from the headlines, Europe’s energy challenges remain. Electricity and natural gas prices are higher than normal. Policymakers face the challenge of turning the loss of Russian gas supplies into a long-term strategy for energy security and decarbonization. The ripple effects of this crisis have left emerging markets and developing countries struggling to afford energy. 

How has Europe’s energy outlook evolved over the past year and a half? How are policymakers trying to secure the continent’s fuel supplies? And what does all this mean for the global energy transition?

This week host Jason Bordoff talks with Anne-Sophie Corbeau and Tatiana Mitrova about how Europe’s energy outlook has changed since Russia invaded Ukraine.

Anne-Sophie is a global research scholar at the Center on Global Energy Policy, where she studies low-carbon fuels and natural gas. Her career in the energy industry spans over 20 years, including stints as the head of gas analysis at BP, senior gas analyst at the International Energy Agency, and research fellow at the King Abdullah Petroleum Studies and Research Center. 

Tatiana is a research fellow at the Center on Global Energy Policy. She is an expert on Russian energy policy, having previously served as executive director of the Energy Centre of the Moscow School of Management SKOLKOVO, and as head of research in the oil and gas department in the Energy Research Institute of the Russian Academy of Sciences. She currently serves on the board of directors at Schlumberger Limited.