Green Shoots Amid Europe's ENERGY WOES

After Russia invaded Ukraine in February, European governments vowed to slash their dependence on imported natural gas and speed the shift to clean energy.

Almost a year into that effort, there’s been some success. Renewable power installations are booming, but countries are also relying on polluting coal power to fill the energy gap. And the most difficult challenges may still lie ahead.

As 2023 begins, pipeline supplies of gas to Europe have plunged because of the closure of Russia’s Nord Stream network and could halt entirely if a remaining line through Ukraine is shut off.

Before the war, the European Union imported some 155 billion cubic meters (5.47 trillion cubic feet) of gas from Russia annually, about enough to satisfy 40% of its overall demand for the fuel. The vast majority of that arrived directly via pipelines, the cheapest way to move gas. Throughout last year, gas prices in Europe soared and fell on news of how much fuel would flow in the pipelines.