Conclusion to European Gas Markets in Transition

Andreas C. Goldthau

Chapter 13 in European Gas Markets in Transition, 2026, pp 225-231 from Edward Elgar Publishing

Abstract: Against the backdrop of a renewed Russian energy geopolitics in natural gas and the imperative to decarbonize Europe's energy system, this chapter makes three central points. First, the 2022 energy crisis prompted the EU to recalibrate energy policy priorities, suggesting that the bloc may be shifting towards a public interest model, which accepts higher economic costs in return for energy security gains. Second, the chapter argues that the jury is out on whether a clean industrial model is feasible and whether the EU decarbonization pathway delivers value creation that sustains its welfare states. Finally, the chapter suggests that against the backdrop of import needs in green hydrogen but also the need for critical materials in the clean transition, the EU's transition will need to entail a value proposition for countries in the Global South. The EU will, therefore, be faced with a new energy trilemma, consisting of security, affordability, and justice.

Keywords: EU energy policy; 2022 energy crisis; Green hydrogen imports; Clean energy transition; Energy security and justice; Global South and decarbonization (search for similar items in EconPapers)
Date: 2026
ISBN: 9781035382958
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