Germany, The Netherlands, Germany and the UK have each reversed decisions to decrease oil and natural gas development in the wake of Russia’s war on Ukraine, supporting the need to reduce dependence on fossil fuel imports.

Russia’s Gazprom PJSC in late May said it planned to discontinue supplying the Netherlands with gas after Dutch wholesaler GasTerra BV refused to make payments in roubles. Soon thereafter, the Dutch government gave the green light to develop more gas in the North Sea in a shared venture with Germany. 

Gazprom recently announced reduced flows to Germany, making it the latest European gas buyer to face reductions. By Tuesday, France, Germany, the Netherlands, Sweden and at least nine other European countries activated some form of “early warning”...