Full Title: How Russia's War on Ukraine Has Impacted Global Gas Markets: Roundtable Report
Author(s): Anne-Sophie Corbeau, Adalberto Castañeda Vidal, and Chaedar Pramana
Publisher(s): Columbia SIPA Center on Global Energy Policy
Publication Date: July 30, 2022
Full Text: Download Resource
Description (excerpt):
On June 7, the Center on Global Energy Policy at Columbia University hosted a private virtual roundtable conducted on a not-for-attribution basis on how Russia’s invasion of Ukraine has impacted global gas markets. The roundtable took place three weeks after the European Commission (EC) published its REPowerEU Plan. As of early June, a total of five countries (Bulgaria, Denmark, Finland, the Netherlands, and Poland) and Shell in Germany have had their contracted gas supplies cut by Russia due to their refusal to pay for them in rubles.
Participants in the roundtable included senior corporate executives, civil society representatives, energy analysts, and experts from academia and think tanks. What follows is a summary of the discussion, which focused on two topics: the war’s short-term impact on different regions, particularly Europe, where the EC has sought to reduce dependence on Russian gas and secure supply for the upcoming winter simultaneously, and how high natural gas prices and supply disruptions could impact the role of natural gas in the energy transition in the long term.