Related Articles
Forward article link
Share PDF with colleagues

Growing risks in the European energy market

Richard Power, head of energy disputes at law firm Berwin Leighton Paisner looks at the key causes of disruption to the fast-changing European energy market, and the legal risks involved

Europe's energy market is today arguably in a more precarious state than the (literally) dark days of the mid-1970s. International conflict, carbon reduction targets, increased use of renewables and political upheaval all pose threats to the security of Europe’s energy supplies, particularly natural gas.  Europe is highly dependent on Russian energy supplies, importing about 30% of its gas and 35% of its crude oil needs from Russia. Western Europe is better insulated from supply shocks than many Eastern European states, which remain almost entirely dependent on Russian gas supplies. The civil war in Ukraine is a grave threat to continued gas and oil supplies from Russia. Most obviously, Ru

Also in this section
Is Russia edging towards the Opec exit?
21 May 2018
Russian output remains much higher than the level it agreed to in December 2016 and producers have big expansion plans
Oil goes into the red zone
21 May 2018
The market is primed for another price rally. The industry needs to update its outlook
Opec ushers in the next market cycle
11 May 2018
Opec and partners have cleared the glut—but will keep cutting. The strategy will support prices, but recreate the conditions that brought about the last bust