For Russia, which shipped two-thirds of its gas exports to Europe, the decision to close Nord Stream was an own goal. Russia’s market share in the EU has fallen drastically to around 10% even as it struggles to reroute the spare gas. Russian gas exports via pipeline to Europe fell nearly 60% to 62 billion cubic meters (bcm) in 2022, prompting Gazprom to cut production by a fifth. For over 50 years, Russia had been a reliable natural gas supplier to Europe, fulfilling its contractual obligations even at the height of the Cold War. Moscow’s reputation played a major role in fueling Germany’s addiction to Russian gas, as Europe’s economic engine gave shape to a business model based on exports and cheap energy. A year ago, Russia stopped gas flows to the EU via the Nord Stream pipeline to inflict pain on the bloc for its overwhelming support for Ukraine. Was this an own goal against Russia ?
