Post-pandemic demand recovery and the recent geopolitical developments have resulted in significant increases in the price of natural gas [1]. This is particularly affecting Europe, due to its reliance on natural gas imports from Russia [2]. Being able to cut down prices whilst guaranteeing supply and enabling the transition to net zero is one of the most challenging societal issues. Given the current circumstances of the war in Ukraine and the need for Europe to decrease the dependency on Russian gas has made this challenge even more difficult and complex. As a consequence, the International Energy Agency has recently published a report analysing the situation and highlighting changes that should be made to energy system design to accomplish that latter target of reduced dependency. Actions include improving energy efficiency, speeding up the deployment of intermittent renewable energy sources and better energy storage as well as higher volumes of imported and processed LNG from other international suppliers. In all of these chemical engineers will play a key part. Find out more: A 10-Point Plan to Reduce the European Union’s Reliance on Russian Natural Gas – Analysis - IEA.

[1] EU imports of energy products - recent developments.

[2] Wholesale market indicators.