2025
Eloy Álvarez Pelegry, Macarena Larrea Basterra
Transatlantic Leadership Network. Atlantic Energy Forum.
Abstract
The energy transition towards a low-carbon economy is a process of no return. However, it won't be uniform across the world and the Atlantic Basin. Moreover, the process will be complex given the broad implications for the entire economy and the numerous sectors involved. In the North Atlantic Basin (in particular, the U.S. and the EU), the policy frameworks and deployments are clear and, until now, have driven GHG emissions reductions.
Gas demand will grow depending on the decarbonization scenarios, but it will be very significant. Since the beginning of the war in Ukraine, LNG supplies to Europe from the U.S. have substantially decreased Europe’s dependency on Russia (even if, presumably, at higher prices).
At present, and in the context of ‘open strategic autonomy,’ LNG in the Atlantic Basin, especially in the North Atlantic, has a strategic role to play in terms of energy security, where high and volatile energy prices are proving to be challenges.
