It is quite possible that Russia will forever lose access to the global energy market if Europe can refuse to import Russian gas and oil.. European countries are looking for new energy sources after Vladimir Putin's army invaded Ukraine on February 24.

The EU promised to cut Russian gas imports by two-thirds by the end of the year, and also proposed a ban on all purchases of oil from Russia. The Financial Times writes about this, recalling that in 2021 the EU bought a third of the required gas from Russian companies..

Meg O'Neill, chief executive of the Australian oil and gas company Woodside, believes that the Europeans will need time to get rid of dependence on Russian energy carriers.. But when they do, there will be no way.

“Europeans after the Second World War thought that there would never be a war on European soil.. I think what is happening now is so shocking to them that it will be impossible to calm them down and convince them to buy energy from Russia in the future,” O'Neill said..

She recalled the numerous disputes over the pace of Europe's withdrawal from Russian gas and oil.. But at the same time, the resolve of the EU is quite firm. Australia's LNG Producers Expect East Asian Demand to Strengthen as Global Supply Chains struggle to adjust to Russia's expulsion. It is easier to direct the flow of oil and coal to other markets due to geopolitical tensions than in the case of liquefied gas. O'Neill explained this by the difficulty of transporting over long distances.. This means that Australian liquefied gas will not be able to replace Russian gas in Europe..

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At the same time, producers like the US and Qatar, which are geographically closer, will send their liquefied gas from Asia to European countries.. And Australian suppliers will try to meet the needs of Asian buyers.

Cory Judd, director of the Australian branch of the American Chevron group, said Russia would be allowed to return to the global energy system if Putin changes his mind quickly..

“There must be a certain moral transition. This step was not energetic, but social, because the peoples recognized the destructive nature of war. So I suspect if there is a quick change of attitude and more responsible behaviour, then reintegration is possible,” Judd said, adding that such a scenario is unfortunately unlikely..

Michael Shubridge, director of defense, strategy and national security at the Australian Strategic Policy Institute, believes that two independent energy blocs will form in the world. One will include China and Russia, and the other will include Europe, North America and the democracies of the Indo-Pacific region.

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" The divergence of China and the US is now complemented by the divergence of the EU and China.

And we are also dealing with a common strategic challenge coming from Russia and China, which has united Europeans with the countries of the Indian-Pacific region.. The whole separation process started in high-tech, but now it is expanding. And I am convinced that it will now also cover the energy sector,” the expert said..

According to Shoebridge, this all means that countries need to build new supply chains as soon as possible, eliminating purchases from hostile countries..