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

Simulation technology could help prevent future financial crises

How will economic policies adapt in 2020 when a quarter of the EU population is over 65? Can economics better predict how banks will react to credit crunches in the future, and what their impact will be on the wider economy? more »

EBRD supports one of the first modern food retail chains in Turkmenistan

The EBRD is supporting the development of one of the first modern food retail chains in Turkmenistan with a $1.9 million equity investment in Ak Enar. more »

Ukrainian electricity to be supplied to Lithuania without intermediaries

While on a working visit to Ukraine, President of the Republic of Lithuania Dalia Grybauskaitė has underlined that Ukraine might become a very important energy partner for Lithuania and for the whole European Union but only transparent and open relations will lead to success in this area. more »

Cooperation between the Nordic Investment Bank and Lithuania was discussed in Vilnius

On 25 November in Vilnius, Lithuania’s Vice-Minister of Foreign Affairs and President of the Nordic Investment Bank discussed the issues of the Northern Dimension Partnership on Transport and Logistics (the secretariat of which is being established at the Bank), issues of the NIB cooperation with Lithuania and perspectives of the NIB’s activities in the country. more »

EBRD adopts new Russia Strategy for 2010-2012

The European Bank for Reconstruction and Development has adopted a new strategy for the Russian Federation. more »

Made in where? MEPs want clear rules on origin marking

Consumer protection requires transparent and consistent trade rules, believe MEPs. more »

EIB provides CZK 2 billion for regional infrastructure in South Moravia (Czech Rep.)

The European Investment Bank (EIB) is lending CZK 2 billion (approx. EUR 76 million) to the South Moravia Region for co-financing the Region’s priority infrastructure projects supported by the EU Structural and Cohesion Funds over the period 2007 – 2013. more »

Israel-Lithuania Chamber of Commerce Established

Seeking to strengthen business partnership between Israel and Lithuania the Israel and Lithuania Chamber of Commerce has been recently established in Lithuania. more »

Dr. J.Titarenko appointed as Chief Financial Officer of Bank DnB NORD Group

AB DnB NORD Bankas, notifies that on 24 November 2009, the member of the Management Board and Executive Vice-president of AB DnB NORD Bankas dr. Jekaterina Titarenko has been appointed as Chief Financial Officer of Bank DnB NORD Group. more »

Financial aid for Serbia, Bosnia, Armenia and Georgia

Parliament gave its backing on Tuesday for €400 million-plus in budget aid to Serbia, Bosnia and Herzegovina, Armenia and Georgia. more »