The Energy Crisis in Europe and Russian Gas Supplies

Abstract

The increasing tensions within global gas markets, especially in Europe where gas makes up a considerable share of the energy balance, are considered. The nature and reasons behind supply and demand imbalances in the European gas market are analyzed. The risk factors that have caused the unsatisfactory situation in the field of energy, including strong volatility, stock levels, imbalances in supply, and political unpredictability, are examined. The analysis of factors impacting the energy crisis has revealed that the situation is largely dependent on the supranational policy of the EU, which is stimulating a surge in energy demand.