Business Daily

Could Europe turn off Russian gas?


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The Ukraine invasion is forcing the European Union to completely rethink its energy policy.

Tamasin Ford asks how easily the continent could wean itself off Russian fossil fuels. After all, Europe's oil and gas purchases from Russia helped to fund this war in the first place, according to Kristine Berzina of the German Marshall Fund in Washington DC.

The immediate task is to slash dependence on Russian gas before winter returns in nine months, and Simone Tagliapietra of Brussels-based think tank Bruegel says that is doable. However, it's a much tougher task to stop Russian oil exports, according to Jason Bordoff of Columbia University, given that oil - unlike gas - is an integrated global market with many buyers.

Nonetheless, there is optimism that the invasion mark a turning point in the Western world's transition to carbon-free energy. Although Rosie Rogers of Greenpeace fears that in the short term, the scramble to turn off the gas pipelines could actually see European carbon emissions increase.

Producer: Laurence Knight

(Picture: Frozen gas pipeline valve; Credit: Getty Images)

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