How the Ukraine war is affecting oil and gas markets

Commentary

Podcast

How the Ukraine war is affecting oil and gas markets

Samantha Gross and David Dollar

April 4, 2022

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Dollar and Sense The Brookings Trade Podcast

Landfall pipes of the Nord Stream 2 pipeline in Russia on Sept. 23, 2021. Germany is halting the controversial Nord Stream 2 pipeline in light of Russias incursion into Ukraine, Chancellor Olaf Scholz said on Tuesday Feb 22, 2022. The undersea pipeline, meant to ferry natural gas directly from Russia to northern Germany, is owned by a subsidiary of Russias state-owned Gazprom. Berlin has previously been reluctant to impose sanctions that would affect Nord Stream 2. But at a press conference Tuesday, Scholz said that the situation today is fundamentally different and therefore, in light of recent events, we must also reassess this situation also with regard to Nord Stream 2. Shortly after, the economy ministry announced it was halting the certification process. (Nord Stream 2/EYEPRESS)

1 min read

Samantha Gross, director of the Energy Security and Climate Initiative at Brookings, talks with host David Dollar about the Ukraine war’s impact on energy prices. Gross explains the impact Russia’s war on Ukraine is having on natural gas supplies and prices, oil markets, and whether the U.S. should increase natural gas exports to Europe.

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