The European energy crisis and the consequences for the global natural gas market
The 2022 Russian invasion of Ukraine severely disrupted European gas markets. Energy costs rose steeply, global natural gas flows were significantly reoriented, and policymakers’ focus shifted towards energy security. This column examines how the conflict has reshaped the natural gas market, with an emphasis on the role of liquefied natural gas. Europe has become a major importer of liquefied natural gas, crowding out imports to Latin America and Asia. Its gas market is becoming more integrated and global. Nonetheless, the outlook for the natural gas market remains subject to high uncertaint...
Source: cepr.org