Europe's energy security in 2026: More resilient, but systemically exposed

Europe has come a long way since the 2022 energy crisis—but greater resilience has not eliminated vulnerability. This brief shows how Europe’s energy security risks are shifting: from dependence on Russian fossil fuels toward concentrated LNG supplies, overstretched electricity grids, critical raw-material dependencies and infrastructure that must withstand increasingly complex disruptions. As electrification accelerates, the challenge is no longer simply securing enough energy, but ensuring that grids, supply chains and essential services can keep functioning under stress. Three priorities for action stand out: stronger cross-sector crisis preparedness, better access to emergency energy equipment, and more effective support for strategic critical-material projects.