August 2022, Vol. 249, No. 8
Features
Midyear International Update: Midstream Steps Up as Europe Pivots from Russian Energy
By Jeff Awalt, Executive Editor (P&GJ) — Six months into Russia’s war on Ukraine, a global oil and gas supply squeeze has been further tightened by sanctions on the world’s largest energy exporter, sending power and fuel prices soaring. A weakening economic outlook has done little to alleviate a global energy crisis driven by a shortage of supply and a post-pandemic demand rebound. Low inventories, cautious capital spending by Western energy companies, and limited spare capacity among OPEC+ producers has deepened the impact of oil supply constraints via sanctions on Russia. Europe, which relied on Russia for 45% of its natural gas supply in 2021, was on the verge of power ration
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