Energy impact of Ukraine crisis

The panel

• Michael Bradshaw Professor of Global Energy, Warwick University
• Jim Watson, Professor of Energy Policy and Director of the UCL Institute for Sustainable Resources
• Lisa Fischer, Programme Leader at E3G
• Dr Simon Cran-McGreehin, Head of Analysis at the Energy and Climate Intelligence Unit (chair).

About

The tragic events in Ukraine have sent shockwaves through global energy markets, with UK gas prices rising close to the all-time record highs reached at the end of 2021. Although there has been swift action to diversify supplies to Europe, European Union states remain heavily reliant on supplies of Russian gas, meaning that prices are set to remain high, both in the EU and UK.

The crisis has focused minds on ways of alleviating high energy prices and of diversifying supplies to bolster energy security. It has also raised questions around climate policy and whether the crisis is likely to spur greater ambition to wean European economies off a dependence on fossil fuels.

This briefing will consider:

• What approaches the UK can take to insulate itself from this crisis in the short and medium term;
• Whether it is possible for European states to switch away from reliance on Russian gas and what options exist for meeting energy demand from other sources;
• The impact of the suspension of Nord Stream 2 and how countries such as Germany might use this moment to pivot away from gas;
• What effect increasing UK domestic oil and gas production might have both in the UK and EU;
• What the crisis might mean for climate policies in the UK and EU, and whether an acceleration towards domestic clean energy sources and demand reduction measures such as energy efficiency is likely.

If you would like to attend the briefing - or have any questions about it - please contact George Smeeton: george.smeeton@eciu.net, t: +44 (0)7894 571 153