The UK only receives around 4% of its gas from Russia. But a cut in deliveries to European countries more dependent on the country would have a knock-on effect.
AEMO also forecast a risk of gas shortfalls under extreme weather conditions from winter 2023 in New South Wales, Victoria, Tasmania and the Australian Capital Territory.
If Russian gas stops flowing, measures to replace supply won’t be enough. The European Union will need to curb demand, implying difficult and costly decisions.