Prior to the Russian invasion of Ukraine, the European Union took approximately 40% of its natural gas supply and over 25% of its imported crude oil supply from Russia. The war caused severe disruption of energy supplies throughout the Union.
The purpose of this resource center is to set out in one comprehensive post the panoply of initiatives and measures the EU and its member states are pursuing to address this disruption and enhance their energy security (including accelerating their use of renewables).
As further detailed in the table of contents below and in the left-pane navigation, we cover (and provide links to practical supporting materials in respect of) the following topics:
- capping prices and taxing extraordinary profits of EU energy producers and providers
- state aid issues
- assuring EU gas supplies
- efforts to diversify the EU’s energy mix
- proposals to cap the price of Russian gas
If you would like to discuss with us how your business may be affected by, and may be able to benefit from, these many initiatives, please do reach out to your usual contact at Cleary Gottlieb.
- CLEARY ALERT MEMO: Commission Launches Consultation on Reform of the EU Electricity Market Design To Support a Clean and Affordable Energy Transition
- CLEARY ALERT MEMO: EU Adopts Fast-track Permit-granting Process for Renewable Energy Projects