Obviously, Europe will try to return to cheap pipeline gas. Hopefully, the Qatar - Turkey pipeline will be built and Europe will have an alternative to russian gas.
Hopefully. If nothing else, it removes Putin's ability to use energy supply as a weapon.
If Ukraine can regain Crimea in any settlement, then it can renew the Black Sea oil/gas exploration contracts Ukaine signed in 2012 which were cancelled by Russia’s of Crimea in 2014. Quite clearly this was the primary reason for Putin’s actions in both 2014 and 2022, as well as significant for his Syria efforts and choices. The BIG QUESTION now is how Trump will judge future impacts for the US and his POLITICAL future given his US goal of drill, baby, drill? Will improving Ukraine’s prospects for Crimea petroleum, and Turkey’s interest in the pipeline income cause Trump to support Ukraine, or might Trump have some other thoughts/plans regarding relations with Turkey, like Crimea for Turkey? I know Trump family members have tried in the past to work out big business deals with Erdogan family members.