Webinar IENE: “Energy Security in SE Europe in View of Rising Geopolitical Tensions”

Announcement

Over the past years IENE has been covering extensively and consistently energy security issues through newsletters, relevant studies, conferences, and seminars. On Monday, December 09, 2024, the Institute convenes a special webinar on “Energy Security in View of Rising Geopolitical Tensions”. The main purpose of the webinar, which will be held online between 16.00 and 19.00, is to examine and analyze the latest geopolitical developments and their impact on energy security in the wider region of SE Europe and the Eastern Mediterranean amid the ongoing conflicts in Ukraine and the Middle East.

Europe’s energy security remains a key concern despite the progress the region has made in weaning itself off Russia’s gas imports. Over the last three years, European countries have significantly increased their reliance on alternative energy sources, reducing their dependence on Russian natural gas and swiftly replenishing their gas storage levels. However, they have not yet reached a satisfactory level of energy security.

At the same time, the relatively mild weather in 2023/2024 meant demand for fossil fuels remained low, helping with the energy transition efforts in many countries. Also, the timely filling of underground gas storage facilities last summer in most countries has helped ensure adequate stock levels. But pressing questions remain on whether all these preparations will be sufficient to face the coming months and the next years.

Already, this winter Europe is facing renewed challenges over its gas supply options. Will Europe be able to tackle the potential challenges that the energy market could pose in 2025 and beyond?

Norway and Azerbaijan have partly replaced Russia as main gas supplies, while a combination of mild winter temperatures, lower energy prices and the boost of liquified natural gas (LNG) imports from international suppliers, including the US, ensured Europe survived the past two winters and could plan ahead. However, the situation is fast changing while worsening winter conditions could mean that Europe may once again face difficult gas supply conditions, and certainly much higher costs.

At the same time, the conflict between Israel and Iran, and its proxies, threatens to upend the region’s, delicate energy balance. While markets are relatively calm for now, oil and gas supply from the Gulf area could change and prices could come once again under pressure.

IENE’s timely webinar comes to highlight the vital role that the South-Eastern part of Europe can play, in terms of electricity and gas supply as a regional energy hub, in the coming years, in the midst of a geopolitically fragmented world.

Several highly qualified speakers from across the region will participate and exchange views and information on current issues and future challenges.