Fueling Hope in Europe
“For European nations forced to buy natural gas from unpredictable foreign suppliers, revolutionary new technologies for extracting gas from shale deposits could rearrange the economic, political and diplomatic landscape. Not only would these new supplies transform world energy markets in Europe’s favor, but the discoveries could end the dominance of such producers as Russia’s Gazprom, which made headlines in 2005 and 2009 by interrupting gas shipments through Ukrainian pipelines in the dead of winter.
European leaders view diversification of oil and gas supplies as crucial in establishing energy security. According to European Union data, 60 percent of EU natural gas is imported. Among Western and Central European nations, only Norway, Denmark and the Netherlands are net gas exporters. Data from the EU’s Eurostat indicate that about one-third of EU gas imports were supplied by Russia in 2009. However, dependency on Russian gas has dropped substantially from 2007, when it constituted 41 percent of the EU’s gas imports. Germany received 40 percent of its gas from Russia, while Hungary got 75 percent and Poland 72 percent. Ukraine has little or no domestic gas production and is almost totally dependent on Russia...”
Excerpt from per Concordiam Staff, “Fueling Hope in Europe,” per Concordiam: Journal of European Security Defense Issues 1, No. 4, 2010: 48-51.
This article reflects the views of the author and are not necessarily the official policy of the United States, Germany, or any other governments.