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European energy policy shifts towards homegrown supply as crisis exposes limits of coordination

European energy policy paradox: Russian LNG exports hit record highs amid Hormuz supply shock

European gas storage injections off to a slow start
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Chart showing decline in Europe LNG imports and pipeline gas flows March 2026

Global LNG supply wave delayed as Hormuz shock reshapes gas markets

Global LNG supply has been sharply disrupted by the effective closure of the Strait of Hormuz, with the IEA warning that the loss of almost 20% of global LNG supply is distorting short-term gas market fundamentals and altering the medium-term outlook. After strong LNG growth had helped ease prices earlier in the winter, the Middle East conflict has pushed Asian […]

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Chart showing EU net gas withdrawals and injections by month comparing 2021–2025 average, 2025, and 2026 levels

Global gas market tightens as LNG disruptions test Europe’s supply resilience

The global gas market tightened sharply in March 2026 as LNG supply disruptions in the Middle East reduced exports and pushed prices higher across key regions. While the impact has been global, Europe faces a critical test ahead of the summer refill season, with lower storage levels, rising competition from Asia for LNG cargoes, and increasing exposure to volatile global […]

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Bar chart of 2025 vs 2024 changes in global electricity generation (TWh): Solar +636, Wind +205, Gas +36, Nuclear +35, Other low-carbon +9, Hydro +3, Other fossil −12, Coal −63.

Falling European gas demand underlines structural changes in the power generation market

European gas demand is structurally declining as rapid growth in renewables reshapes the region’s power generation mix. European gas demand is increasingly displaced by solar and wind, which are meeting most new electricity demand and reducing reliance on fossil fuels. This shift highlights a long-term transformation in Europe’s energy system. European gas demand is undergoing a structural decline as renewable […]

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European gas storage levels chart showing decline to nine-year lows during winter 2025–2026

European gas prices surge as LNG disruptions tighten global supply

European gas prices surged during the winter 2025–2026 season as geopolitical tensions and LNG supply disruptions exposed the continent’s growing dependence on global gas markets. A combination of Middle East conflict, reduced Qatari LNG availability, and stronger competition from Asia pushed prices sharply higher, with spot and forward benchmarks rising well above pre-crisis levels and volatility returning to the market. […]

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