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

Commission temporarily authorises aid measures for Austrian bank BAWAG P.S.K.

The European Commission has authorised under EU state aid rules a €550 million capital injection and a €400 million guarantee in favour of the Austrian bank BAWAG. P.S.K. The Commission found the measures to be in line with EU state aid rules. more »

Sharpest Decrease in Hourly Labour Costs Recorded in Lithuania

EUROSTAT has reported that the sharpest annual decrease in hourly labour costs of -10.9% was observed in Lithuania in the 3rd quarter of 2009. more »

Changes in the unemployment rate in III quarter 2009

Statistics Lithuania informs that, according to the Labour Force Survey data, the number of the unemployed in III quarter 2009 made 228.1 thousand. more »

The economic recovery in the euro area is gathering momentum, albeit at a modest pace

What has come to be termed as the "Great Recession" seems to have come to an end in the third quarter of 2009. more »

Commission approves Lithuanian short-term export credit insurance scheme

The European Commission has authorised, under EU State aid rules, a measure adopted by Lithuania to limit the adverse impact of the current financial crisis on exporting firms. more »

Tree more directions from Vilnius to European cities

The schedule of Vilnius International Airport (VIA) is supplemented with 3 more new directions; the airline company airBaltic starts regular flights to Paris today, to Munich tomorrow, and to Berlin on Monday. more »

ECB decides to start construction works for its new premises in spring 2010

The Governing Council of the European Central Bank (ECB) has decided to start the main construction works for its new premises in spring 2010. more »

The award to Bank SNORAS from NASDAQ OMX Baltic Stock Exchange

AB Bank SNORAS was granted the award from NASDAQ OMX Baltic Stock Exchange for the jubilee 15-year listing of the bank’s shares on NASDAQ OMX Vilnius Stock Exchange. more »

Parex banka establishes subsidiary for real estate management

Parex banka has established a subsidiary, SIA NIF, which will professionally manage assets that are not related to the Bank’s core business. more »

Commission proposes measures to ensure that Greek farmers can receive EU support payments

Mariann Fischer Boel, European Commissioner for Agriculture and Rural Development, today put forward a plan to ensure that Greece will put in place the systems necessary to allow EU aid payments to be made to farmers. more »