Electricity prices in Europe are likely to be 50% higher in Europe than in the U.S. in 2030 as many countries in the region opted to reduce nuclear capacity, which will boost consumption of natural gas, coal and renewable energies, Le Monde newspaper reported citing the International Energy Agency's chief economist Fatih Birol.

He added the U.S. will become the world's largest oil and gas producer by 2017 thanks to the development of shale oil and gas extraction, the newspaper said. Canada and Iraq are also becoming world players, he said.

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