For decades, Europe has been able to keep the lights on by relying on cheap natural gas piped in from Russia.
has also threatened to cancel existing energy contracts if payment isn't made in rubles, a move that could be a breach of sanctions. in March promised to deliver more liquefied natural gas to Europe this year to help with the energy crisis — a move that could potentially provide some relief to Europe and solidify America's role as a leading natural gas exporter in today's market.
"At the same time, Russian natural gas was easily available and inexpensive so as these countries began turning from coal and nuclear, they increased their natural gas usage," Matthew Pitzarella, a coleader of the energy industry team at law firm Buchanan Ingersoll Rooney, told Insider.Europe wasn't going to depend on Russian natural gas — or any other fossil fuel — forever.
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renewables will not power manufacturing.... at the scale the EU needs