this post was submitted on 02 Sep 2024
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While that is true and reflected in the article data, it doesn't contradict what I said. Just in case it was meant to ๐
Yes people still buy Russian energy, some countries more than ever, sometimes through third parties, but total consumption is down.
It's true that total consumption of energy in Europe down due to deindustrialization and growing recession because manufacturing in Europe is no longer competitive. However, the breakdown of energy that Europe imports hasn't fundamentally changed. It's not like new sources of energy have magically come into existence in the past two years.
Not sure if I could fully agree with the root cause analysis, but it sounds about right for Europe as a whole. Things are likely still mostly as their were, with additional steps and reduced demand