Energy Outlook in Eastern Europe and Central Asia Region
"Before the current economic crisis hit the Europe and Central Asia (ECA) region in 2008, energy security was a major source of concern in Central and Eastern Europe and in many of the economies in the former Soviet Union. Energy importers were experiencing shortages leading to periodic brownouts and blackouts. An energy crisis seemed imminent. The unexpected fall in economic activity due to the financial crisis staved off the energy crunch. But this is a temporary reprieve. As economic production begins to grow, the energy hungry economies in the region will again face shortages. This is especially true of ECA’s energy importers, who will again be squeezed between their wealthier neighbors to the west and the big oil and gas suppliers in the east."