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European Union countries have varying levels of dependency on Russia for their natural gas supply.
Among member states, Germany and Italy have the highest dependency on Russia in terms of abso-
lute electricity generation. However, the potential for renewables to reduce dependency in Germany is
significantly higher than in Italy based on our wind and solar expectations by 2023 – unless new and
stronger policies are introduced and the pace of implementation picks up. France and the Netherlands’
dependency on Russia gas is relatively low, enabling a higher potential for renewables to displace na-
tural gas. Conversely, in Austria, Hungary and Greece renewables expansion remains limited to reduce
the countries’ dependency on Russia

Europe at the end of 2022 to become the mar- our previous forecast for biofuel growth in 2022.
ket with the largest total offshore wind capacity Since biofuels are blended with gasoline and die-
in the world. sel, much of the downward revision stems from
slowing demand for transport, which has been
Biofuel depressed by a combination of factors includ-
ing growing inflationary pressures, weaker global
Biofuel demand recovered in 2021 from its pan- economic growth and Covid-related mobility re-
demic lows to reach more than 155 billion litres strictions in China.
– near 2019 levels. Demand is expected to keep
rising – by 5% in 2022 and 3% in 2023. Howev-
er, the impacts of Russia’s invasion of Ukraine Republished with permission from the Interna-
have contributed to a 20% downward revision of tional Energy Agency.

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