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Energy security gains geopolitical weight and drives expansion of clean energy sources

Energy security has become a central geopolitical issue after Europe realized its vulnerability from excessive dependence on a single supplier. Russian participation in European Union gas supply grew from around 30% in 2010 to more than 45% in 2019, and the bloc's reserves were at their lowest level in nearly a decade at the end of 2021. With Russia's invasion of Ukraine, Russian pipeline gas imports fell by half in 2022, causing prices to quadruple. Since then, Europe has sought to reorganize its energy matrix and boost the expansion of clean energy sources to reduce this dependence.

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