\r\n Natural gas pipeline flows from Russia to the European Union and\r\n Türkiye\r\n
\r\n mcm/day\r\n\r\n High and volatile energy prices are hurting households and businesses,\r\n shifting the choice of fuels and setting back progress towards\r\n achieving universal access to energy.\r\n
\r\n\r\n Short-term responses have focused on securing available supply and\r\n protecting consumers, but many governments in the US, EU and elsewhere\r\n have adopted new policies that give a major boost to investments in\r\n clean energy and efficiency.\r\n
\r\n\r\n European sanctions on coal and oil imports and Gazprom's decisions to\r\n cut gas supply are triggering a profound reshuffling of trade flows\r\n around the world.\r\n
\r\n\r\n High fossil fuel prices are stoking inflationary pressures; the\r\n combination of falling real incomes and rising prices is creating a\r\n looming risk of global recession.\r\n
\r\n...to the European Union by around 80% since invading Ukraine.
\r\n\r\n ...but a strong expansion of renewables and electric vehicles is\r\n expected to dampen growth in 2022.\r\n
\r\n