Emerging Europe’s Energy Transition

Discussing how the energy markets are evolving – diversifying, moving away from dependence on Russian gas, and becoming ever-greener – CMS Reich-Rohrwig Hainz Partners Thomas Hamerl and Maria Orlyk and CMS Romania Partners Horea Popescu, Blazej Zagorski, take a deep dive into the dynamic shifts in the energy landscape post-2022.

EELM: How is the CEE energy market different today compared to before 2022?

Hamerl: Even markets that heavily relied on Russian gas like Austria or Bulgaria managed to find different suppliers easier than expected, supported by large storage capacity like in Austria and replacing natural gas with LNG, especially via markets like Germany and the Netherlands. Nuclear power is quietly gaining ground, with increased interest in photovoltaic energy. We’ve however learned that despite all the efforts for a green transition, oil and gas will remain important for much longer than we thought.

Orlyk: Although the Ukrainian energy system has been severely damaged by Russian missile and drone attacks and is currently in dire need of support from our international partners, Ukraine still continues to play an important role in the European energy supply network. We are still responsible for gas transit and we have proven to be a reliable partner to European countries in procuring gas storage.

Read the full interview on ceelegalmatter.com