The EU and its member states have taken unprecedented steps to reduce their dependence on Russian energy resources. ECFR’s new EU Energy Deals Tracker documents Europeans’ agreements with new suppliers – and highlights four key lessons for policymakers.
2022 has seen nothing short of a transformation in how EU member states source their energy. Together with the European Commission, they embarked on an unprecedented effort to reduce their energy dependence on Russia following its invasion of Ukraine.
To understand this shift, ECFR set up a new EU Energy Deals Tracker, which has identified 56 new energy deals that EU member states or the European Union itself have signed with third countries this year. ECFR’s team of researchers found that Italy, Germany, and the European Commission have been the most active players: striking 12, 8, and 9 deals respectively. But 18 out of the 27 member states have signed at least one new deal this year. This forms part of a major step-change when compared with the relative stability in supply of previous years.
Beneath these headlines, four key risks emerge that European policymakers should address as they work to further bolster the EU’s energy security.
This article was originally published by the European Council on Foreign Relations, and the full version can be viewed here.