Shifting tides in Europe’s demand for Russian natural gas

Sergey Kapitonov, an expert at the Energy Transition Center, published an analytical op-ed in Forbes (RUS) on the shifting tides in Europe’s demand for Russian natural gas. From August 2022 to March 2023, the European Union was able to reduce its gas consumption by as much as 17.7%, surpassing the initial targets. This development can be attributed to a convergence of factors, most notably a milder winter season, an economic recession, significant changes in consumer behavior, and a transition toward alternative energy sources. In his piece, Sergey unravels the intricacies of these trends and projects possible future scenarios.