The demand for energy in Eastern Europe and Central Asia is expected to increase fifty-percent by 2030…demand for electricity by 90 percent. But without substantial new oil discoveries, the region’s energy production could peak in the next ten to fifteen years. 

Combine this with an aging infrastructure, and widespread energy disruptions may become more common.

Russia and Central Asia are major energy suppliers to both Eastern and Western Europe.  But even so, the region as a whole will face an energy crunch that will slow economic growth.   A 10 percent shortfall in energy availability could lead to a 1 percent reduction in economic growth, and a bigger shortfall could have a bigger negative impact.

The region was hit hard by the global financial crisis that began in 2008, dampening energy demand significantly.  This is only a temporary pause before energy availability again becomes a serious concern.  Once growth picks back up, so, too, will energy consumption. 

World Bank