Europe Won’t Make Up for Shortfalls of Russian Gas Easily

Europe Won’t Make Up for Shortfalls of Russian Gas Easily
A worker at a Ukrainian gas station in Volovets, Ukraine, Oct. 7, 2015 (AP file photo by Pavlo Palamarchuk).

The current crisis between Russia and Ukraine has put the United States and its European allies on high alert over the possibility of the first major interstate military conflict in Europe since World War II. Although efforts to find a diplomatic resolution to the crisis continue, the room for a mutually acceptable outcome has narrowed now that the U.S. and NATO have rejected Russia's demands that no additional NATO troops be deployed to Eastern Europe, while continuing to provide arms and other aid to Ukraine.

Apart from the concerns the crisis has raised over European security and Russian revanchism, Europe is also particularly alarmed about the potential for major disruptions in its energy market, which is highly dependent on Russian oil and gas. Indeed, a military invasion of Ukraine could create an energy catastrophe in Europe if it results in Russian gas exports being cut entirely. The diplomatic fallout from an invasion could also trigger the cancellation of current energy projects within the European Union, such as the Nord Stream-2 pipeline to Germany, which would have long-term implications for European energy supplies.

Although Brussels and Washington are currently seeking alternative suppliers to prepare for such an eventuality, the reality is that none of them are in a position to offer an immediate solution to the projected shortfall.

Keep reading for free!

Get instant access to the rest of this article by submitting your email address below. You'll also get access to three articles of your choice each month and our free newsletter:

Or, Subscribe now to get full access.

Already a subscriber? Log in here .

What you’ll get with an All-Access subscription to World Politics Review:

A WPR subscription is like no other resource — it’s like having a personal curator and expert analyst of global affairs news. Subscribe now, and you’ll get:

  • Immediate and instant access to the full searchable library of tens of thousands of articles.
  • Daily articles with original analysis, written by leading topic experts, delivered to you every weekday.
  • Regular in-depth articles with deep dives into important issues and countries.
  • The Daily Review email, with our take on the day’s most important news, the latest WPR analysis, what’s on our radar, and more.
  • The Weekly Review email, with quick summaries of the week’s most important coverage, and what’s to come.
  • Completely ad-free reading.

And all of this is available to you when you subscribe today.