TANAP gas supply to increase by 2026

Europe is unlikely to be able to reduce its reliance on Russian natural gas for at least the next decade and even further, Fitch Ratings said on August 26.

At best, the European Union may be able to avoid significant increasing of its gas purchases from Russia, the agency added.

“Any attempt to improve energy security by reducing European reliance on Russia would require either a significant reduction in the overall gas demand or a big increase in alternative sources of supply, but neither of these appears likely,” Fitch said.

The recovering European economy will push up energy consumption in the coming years, helping offset energy efficiency measures, while environmental concerns will limit any further switch to electricity generation from other hydrocarbons or nuclear power.

Azer News, 27.08.2014