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The Energy sector is going through unprecedented changes, with Europe at the epicentre and global repercussions affecting existing policies and plans. The geopolitical developments in Russia and the imposed sanctions by Europe have created an explosive mix of high energy costs and an apparent supply/demand deficit.
In this 11th Edition, HAEE’s Chart of the Month focuses on EU’s energy security in terms of oil and gas imports in net mass and in value.
In the last quarter of 2022, the monthly gas import quantities have increased but Russia is exponentially losing ground, both as natural gas and oil supplier.
Ending the EU’s energy dependency on Russia is a time-consuming procedure, which requires strategic planning, joint attempts to diversify its energy sources, the identification of its opportunities to ramp up its assets in the energy sector, and the confrontation of its bottlenecks.