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Europe Eyes Costly Options to Live Without Russian Natural Gas

  • Germany, Italy and the U.K. want to reduce dependence
  • Coal power likely to get a boost at a cost of climate targets
Bloomberg business news
Energy Prices Spiking as U.S. Considers Russian Oil Ban

Western European nations are scrambling for ways to live without Russian natural gas, bracing for the possibility that either the Kremlin switches off the taps or political pressure for tighter sanctions erupts into a full energy embargo.

With Russian troops advancing into Ukraine, European Union governments are concerned that the source of 40% of the region’s gas could either be interrupted in the fighting or by economic measures to contain Russian President Vladimir Putin.