Energy Perspectives

In this chapter, some key figures on important energy issues are presented. The gas import dependencies of individual countries, national oil import figures for OECD countries, and the respective dependencies on Russia are important starting points in the area of energy. Dependencies on Russia across EU countries vary widely. Portugal and Spain, for example, are hardly dependent, with Spain also having ample liquefied natural gas capacities. However, the EU lacks intra-EU pipelines in the south-north and west-east directions to make full use of these. It should also be noted that Russia has a wide range of options, against individual EU countries or the EU as a whole in terms of counter-sanctions. Some proposals for further Western sanctions can be considered questionable. Moreover, the increase in oil and gas prices leads to numerous problems as less energy-intensive production is profitable in the West and because private households face massive price increases in the medium term when they face having to pay their heating bills. Energy market shocks add to the international corona pandemic problems and supply chain disruptions.