Uncertainties over Europe's long-term gas supplies
Block in supply?
With declining domestic resources, Europe is heavily reliant on Russia, Turkmenistan and Algeria for its natural gas needs. The European Commission (EC) calculates that Europe's total gas consumption will increase from 502 billion cubic meters (bcm), in 2005, to 815 bcm in 2030, placing additional pressure on exploration and pipeline projects to fill this gap in supply. But the past five years have seen the shape of the European natural gas market change dramatically, with demand decreasing year
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