Europe Striving Towards Diversifying Natural Gas Sources

PRLog (Press Release)– Jun 20, 2011– Natural gas is an important constituent of European energy mix. It represents one–third of the total energy consumption in the region. Natural gas in Europe audi is used for various industrial, commercial and residential purposes. Low carbon emissions and cos rc helicopter and car market place t competitiveness associated with natural gas are the factors driving the preference towards natural gas usage in the region.

Russian Federation (Russia) plays a significant role in European natural gas imports. It supplies about 29% of the total natural gas imports to Europe. This over-dependence on Russian gas supplies makes the region vulnerable to gas supply disruptions as happened during Russia-Ukraine gas price dispute. While Europe has been able to reduce the share of Russia in its natural gas imports over the last few years, the importance of Russia in its natural gas market is expected to continue in the near future.

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The MENA countries possess around 43% of the world's proved natural gas reserves. Hence, European region is looking at MENA countries as a potential alternative to Russia to secure its gas requirements. Europe aims at reducing the share of Russia in its gas imports in order to safeguard itself for future against the manipulative tactics used by Russia in the past. (It has been alleged that Russia deliberately curtails gas supplies to Europe).

Natural gas not only finds application in the commercial and the industrial sectors in Europe, but it is also used extensively for domestic consumption. The region makes up for the supply-deficit of natural gas by importing natural gas in both natural gas and LNG forms.

The transportation of the LNG via tankers requires liquefaction auto part terminals at the exporters' end and regasification terminals at the importers' terminals. The region accounts for about 28% of the planned regasification terminals worldwide for the period 2011–2015

"Europe Striving Towards Diversifying Natural Gas Sources -Implications for Russian Gas Exports and Gas Producers from Middle East and North Africa", is the latest report from GlobalData, the industry analysis specialists, that analyzes the key issue of diversification of the natural gas sources in Europe and its implication for Russian gas exports and the gas rich countries of the Middle East and North Africa. The report provides information on the natural gas market of Europe, the supply demand gap in natural gas and gas trade movements. The report also analyzes Russia's role in the European natural gas market. It also covers the initiatives taken by Europe to reduce the dependence on Russia for nat corsa ural gas. The report is built using the data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GlobalData's team of industry experts.

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