The heightened focus on energy security and the rising cost of energy is reinforcing the difference in decarbonization speed between Europe and the rest of the world – according to the sixth edition of DNV’s Energy Transition Outlook. Europe, which can be regarded as the leader of the energy transition, will double down on renewables and energy efficiency to increase its energy independence. European gas consumption will fall dramatically as a result of the war in Ukraine. Compared to last year’s forecast, DNV sees the continent consuming almost half the amount of natural gas in 2050. Gas will meet just 10% of Europe’s energy demand in 2050 compared with 25% today.