Montel News - Energy Insights
What can Finland teach Europe about energy resilience amid geopolitical turmoil?
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Finland has the longest border with Russia of all the EU member states and has built up the resilience of its power system over many years. However, both Finland and Europe have faced the impact not only of the war in Ukraine but also from the US-Iran war in the Middle East which has closed the Strait of Hormuz and brought 20% of global LNG and oil supply to a halt. While it seems a resolution to the blockade of this international shipping route may now be unfolding, the need for Europe to bolster its energy resilience remains. Reporting by Gert Ove Mollestad, Editor Norway. Contributors: Asta Sihvonen-Punkka, CEO, Fingrid, Jaakko Jääskeläinen, Director of Market Intelligence, Fortum and Henning Gloystein, Managing Director, Energy, Industry & Resources, Eurasia Group