Demand for natural gas shipped to Europe via pipelines will grow in the coming years, but growth will be hampered by higher energy efficiency measures and rising supplies of liquefied natural gas, Bernhard Reutersberg, chief executive of Germany's largest gas importer E.ON Ruhrgas, said Friday.
Demand for natural gas shipped to Europe via pipelines will grow in the
coming years, but growth will be hampered by higher energy efficiency measures
and rising supplies of liquefied natural gas, Bernhard Reutersberg, chief executive
of Germany's largest gas importer E.ON Ruhrgas, said Friday.
"There was an increase in demand in the first three months of the year
relative to last year," said Reutersberg, speaking on the sidelines of the
official launch of the construction of the Nord Stream pipeline, through which
natural gas will be shipped from
Russia
to
Germany
under
the
Baltic Sea
.
In comparison to recent years, however, demand is still at a low level, he
added.
"There is an increase [in demand], but the question is how long will it
last," Reutersberg said, adding that growth will primarily be driven by
more demand for gas to power generation.
On the downside energy efficiency and carbon dioxide emissions abatement
measures will dampen demand growth somewhat, Reutersberg added.
"Another factor is that indigenous production in
Europe
will
go down, so this has to be covered from additional imports," he said.
"Some of this will come from
Russia
, some
from LNG," Reutersberg added.
Reutersberg also said that OAO Gazprom (GAZP.RS) hasn't approached E.ON
Ruhrgas, a fully owned unit of German utility E.ON AG (EOAN.XE), about further
upstream projects in
Russia
.
Gazprom has previously approached western companies over possible joint gas
production projects on the Yamal peninsula, a gas-rich region in
Siberia
.
"We are in talks on several projects but not on Yamal," said
Reutersberg.
E.ON Ruhrgas owns a stake of 25% minus one share in Gazprom's giant western
Siberian gas field Yuzhno Russkoye. Gazprom is majority owner with a stake of
50% and operates the gas field. Wintershall AG, the upstream oil and gas unit
of German chemicals company BASF SE (BAS.XE), owns 25% minus one share in
Yuzhno Russkoye, but holds 35% economic interest.
E.ON has said it aims to obtain about 6 billion cubic meters from the Russian
field yearly, or about 60% of its annual gas production target of 10 bcm.
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