Rapid Transition to Energy Sovereignty

With oil and gas markets rattled by conflict in the Middle East, Europe’s energy exposure is back in focus. The  closure of the Strait of Hormuz has shown that disruption to supply is becoming more likely against today’s geopolitical backdrop. Europe must act decisively to ensure long-term energy sovereignty. Accelerating the transition to clean energy is the clearest path to this. 

Our latest report finds that the European Union remains heavily dependent on imported fossil fuels from high-risk trading partners who have shown their willingness to abuse their trading power. This leaves the EU vulnerable to price shocks and geopolitical pressure despite the move away from Russian gas.  

Nearly 60% of EU energy still comes from imported fossil fuels and around 40% of imports come from suppliers that have threatened supply disruption, making fossil fuel imports a risk to European energy sovereignty, security and competitiveness. This level of dependency constrains geopolitical decision-making and leaves the system exposed to increasingly common price shocks and supply disruption.  

This report lays out five steps to facilitate the transition away from imported fossil fuels and secure long-term energy sovereignty for the EU.