Europe seeks homegrown power solutions

Published: 8 January 2006 y., Sunday

The European Union has a harsh New Year's resolution to keep after a gas dispute between Russia and Ukraine led to official exhortations for Europe to look for a wider range of suppliers and energy sources.

European governments must tighten their belts, concentrate more on renewable energy and reconsider nuclear power, EU officials said this week.

"As long as we spend more and more on energy, we will be getting more and more dependent," said EU Energy Commissioner Andris Piebalgs. "We should be looking more at the energy sources we have in the European Union."

The Russian-Ukraine gas spat, which led to European customers reporting a sharp drop-off in their own gas supplies, is yet another wake-up call after oil prices last year rose above $70 US a barrel.

Unless it changes its consumption or savings habits, the EU will import almost 70 per cent of its energy by 2030 and it will compete for a finite pool of oil and gas with energy-hungry boom economies such as India and China.

After the oil shocks of the early 1970s, European countries tapped into North Sea oil and gas deposits. But these supplies are dwindling, Piebalgs said. "The issue is to diversify supplies as far as we can."

Europe is a growth market for gas as it turns away from coal. In 2004, gas imports increased by 5.5 per cent and consumption grew by 3.1 per cent.

A quarter of Europe's imported gas comes from Russia, but Russia's dispute with Ukraine raised questions about its reliability as a supplier. If Europe is to lean less on the state-controlled monopoly Gazprom, it will have to buy more from North Africa and the Middle East, build new pipelines - such as the Caspian Sea route via Turkey - and use more liquefied natural gas, which is easier to pump and transport.

Šaltinis: canada.com
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.

Facebook Comments

New comment


Captcha

Associated articles

The most popular articles

Positive ratings for Poland

Two credit-rating agencies believe Poland's economic outlook is "positive" more »

Polish Central Bank May Reduce Benchmark Rate, Survey Shows

Poland's central bank probably will lower borrowing costs, the second highest in the European Union, for the first time since June 2003 more »

SIEMENS TO DESIGN HIGH-SPEED ELECTRIC TRAINS FOR RUSSIA

The public company Russian Railways will sign a treaty with the Siemens on the stage of designing, the organization of the production of high-speed electric trains and general terms of the contract on April 11 in Hannover more »

Swiss airline: hawk turned pigeon in European sky wars

Switzerland's top airline, after being one of the hunters during the 1990s, succumbed to upheaval in the European air travel market last week to become the prey of German carrier Lufthansa more »

Saddam-Linked Firm with Bulgarian Bank Account

A company linked to the regime of ousted Iraqi dictator Saddam Hussein has had an account in a Bulgarian bank since 1994 more »

Ukraine PM plans more social spending

Ukraine’s parliament on Friday examined the new government’s revised 2005 budget more »

Knowledge Economy Forum IV

EUROPEAN, CENTRAL ASIAN COUNTRIES TO DISCUSS BUSINESS ENVIRONMENT ISSUES more »

Lithuania Losing Patience With Yukos

The Lithuanian government said it was not happy with Yukos' work at Mazeikiu Nafta, an oil refinery and terminal, and has held talks with companies that want to buy Yukos' 54 percent stake more »

UZPRIVATBANK ISSUES CREDIT CARDS

Uzprivatbank started to issue credit cards along with debit cards more »

U.S. Treasury Backs Poland's Buyback Plan

The United States will take part in Poland's plan to buy back a large chunk of its $16 billion in Communist-era debt more »