Europe's energy dependence expected to rise sharply

Jan 22, 2003 01:00 AM

Europe's energy dependence is expected to rise sharply over the next 10 to 20 years, according to a round table meeting held by the United Nations Economic commission for Europe (UNECE).
Forecasts indicate that the increasing energy imports will have to come from more distant areas and countries, with the incoming oil and natural gas pipelines crossing regions with both high political and economic risks.

To secure the required incoming energy flow, it is estimated that massive investments could be needed in the energy producing areas surrounding western Europe, such as Russia, countries of Central Asia and southern Mediterranean, according to the UNECE working party on gas.
UNECE economists hold that coupled with the ongoing energy market liberalization in Europe and the desire of the energy exporting countries to receive a fair share of market value for their energy exports, the emerging new energy landscape in Europe poses several key questions for governments and the energy industry.

Source: Xinhua
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