Europe’s most pressing energy policy goal was reducing carbon emissions that cause climate change before Russia’s war in Ukraine.
In 2021, the European Union imported roughly 40% of its gas and 25% of its oil from Russia — an economic relationship that officials had thought would prevent hostilities, but is instead financing them.
In the near-term, ending energy ties with Russia puts the focus on securing alternative sources of fossil fuels. But longer term, the geopolitical and price pressures stoked by Russia's war in Ukraine may actually accelerate Europe's transition away from oil, gas and coal. The rapid pursuit of energy independence from Russia will likely require “a slight increase” in carbon emissions, said George Zachmann, an energy expert at the Bruegel think tank in Brussels. But"in the long term, the effect will be that we will see more investment in renewables and energy efficiency in Europe,” Zachmann said.
One of Europe's top priorities is to buy more liquefied natural gas that can come by ship. On Friday, American and European officials announced a plan under which the U.S. and other nations will increase liquefied gas exports to Europe this year, though U.S. officials were unable to say exactly which countries will provide the extra energy this year.
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