IEA outlines plan to rapidly reduce dominant role of Russia in Europe’s energy markets
The International Energy Agency has published a 10-point plan for Europe to reduce its reliance on natural gas imported from Russia. The plan would see Russian gas imports to EU member states reduced by one third within a year, and notes that further reductions within this timeframe would come with significant tradeoffs, likely to impact both energy prices and Europe’s Green Deal. The plan was presented by Fatih Birol, executive director of the IEA, in a virtual press conference held earlier today.
Green hydrogen could disrupt global trade, bilateral energy relations
While there are still many uncertainties as to the way in which hydrogen trade might evolve and change economic ties and political dynamics between countries, experts agree that green hydrogen can bring winds of change to the global energy arena. According to the International Renewable Energy Agency, significant geoeconomic and geopolitical shifts are just around the corner.
