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EUROPE’S
SHIFT AWAY
FROM RUSSIAN GAS
THE IMPLICATIONS FOR UTILITIES
In a major shift in energy policy, the n March 2022, the European
EU has unveiled its plan to slash Commission outlined its proposal
imports of fossil fuels from Russia. for REPowerEU, which seeks to
achieve independence from Russian
Yet alternative gas sources cannot I gas following Russia’s military
replace existing volumes from Russia action in Ukraine. As part of this – and
and, as a result, utilities face a tough transition ahead. S&P in an effort to achieve a higher degree
Global Ratings’ Pierre Georges, Global Head of ESG in Credit of energy security – the EU plans to
diversify gas supplies, accelerate the
for Corporate & Infrastructure Ratings, and Claire Mauduit- roll-out of renewable gases and replace
Le Clercq, Director for EMEA Utilities, explain gas in heating and power generation.
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