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World

Are the lights about to go out across Europe?

23 February 2022

3:40 AM

23 February 2022

3:40 AM

Today’s snap decision by German Chancellor Olaf Scholz to halt Nord Stream 2 — the new pipeline intended to export vast amounts of Russian gas into the EU — will make precisely no difference to European energy security, at least in the short to medium term. It could force a rethink of Berlin’s longer-term energy strategy, but the bigger question facing energy markets is whether Russia will curtail existing gas flows into Europe.

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