On Oct. 22, the Jamestown Foundation held as virtual webinar on Russia’s Weaponization of Gas: Repercussions for Global Energy Markets.
Russia’s decision to severely reduce natural gas supplies to Europe before the winter has sent gas prices on the continent skyrocketing further, causing the most serious energy crisis in decades. While gas shortages are a world-wide phenomenon because of the COVID-19 pandemic, which affected gas production in 2020, Russia is taking advantage of increased demand for LNG in Asia to press Germany and the European Union to certify the Nord Stream Two gas pipeline, force EU members to return to strict long-term contracts with Gazprom, and pressure the European Union to change its energy legislation. Yet Gazprom has again proven to be a risky supplier, ready to manipulate the market and weaponize natural gas to achieve Russia’s political goals.
This panel, made up of key energy experts and decision-makers, will discuss the prospects for certification of the newly completed Nord Stream Two pipeline and its impact on European energy security as well as on regional gas markets development. The panelists will also look into the impact on gas supplies to Ukraine, the future of Ukraine’s vast gas transmission network, and the role of Naftogaz in contributing to the country’s energy security.
