Rising tensions between the North Atlantic Treaty Organization (NATO) and Russia over Russian troop buildups on the Ukraine border have raised the specter of an energy crisis in Europe. This new geopolitical context is likely to influence Europe’s calculus going forward, with a high likelihood that a lasting distaste for heavy reliance on Russian gas will give even further impetus to plans to rapidly diversify to cleaner energy sources such as offshore wind and hydrogen. That begs the question: Have Russia’s recent actions hurt its own chances to be a major participant in Europe’s energy transition?
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