NABUCCO WILL NOT REPLACE SUPPLIES OF RUSSIAN GAS TO EUROPE
/PanARMENIAN.Net/
09.07.2009 13:20 GMT+04:00
/PanARMENIAN.Net/ As far as Nabucco project is concerned, Russia
runs no risk of losing its positions in Europe, as Nabucco will cover
only a small part of Europe’s demand for gas, Wolfgang Ruttenstorfer,
the head of Austrian energy giant OMV stated.
According to CEDIGAZ forecasts, the demand for gas in Europe will
grow by 1,9% a year, to increase from 545 billion cubic meters in
2007 to 692 billion cubic meters in 2020.
During the same period, natural gas consumption will grow from 495 to
578 billion cubic meters in 2015, and 605 billion cubic meters in 2020.
"Europe will need additional import of 150 billion cubic meters of gas,
and consequently, new gas pipelines," OMV CEO noted.
According to him, Russia will retain its share in the market; for this
reason, Nord Stream and South Stream are important infrastructure
elements. "These two gas pipelines will not be enough to satisfy
Europe’s additional demands; this is why I believe Nabucco construction
reasonable. As far as Nabucco project is concerned, Russia runs no
risk of losing its positions in Europe. The projects have different
business models, different sources and consumers," Kommersant cited
Wolfgang Ruttenstorfer as saying.