How Europe Is Diversifying Its Energy Sources:

European countries have made diversifying their energy sources a priority, and this effort has been a lengthy and expensive one. It involves investing in infrastructure, such as new pipelines and LNG (liquefied natural gas) terminals. The results of this diversification process have become noticeable.

In the first quarter of 2022, Russia was the largest supplier of gas to the European Union (EU) through pipelines, with a 38.8% share. Norway was close behind at 38.1%, according to Eurostat.

However, by the first quarter of 2023, Russia’s share had decreased significantly, dropping by 21 percentage points. Meanwhile, Norway’s share increased by 8 percentage points, Algeria’s share increased by 7 percentage points, and the United Kingdom’s share increased by 4 percentage points.

Regarding LNG supplies, in the first quarter of 2022, Russia was the EU’s second-largest LNG supplier, accounting for 18.1% of the supply, with the United States being the largest at 48.6%.

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By the first quarter of 2023, Russia’s share of LNG supply had fallen by 5 percentage points. In contrast, Norway’s share increased by 6 percentage points, and both Qatar and Algeria saw a 2 percentage point increase in their shares. The United States, however, experienced an 8 percentage point decrease in its share of LNG supply.

This data highlights the shifting landscape of gas supplies in Europe, with various countries and regions playing a changing role in meeting the EU’s energy needs.

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