As a source of energy, natural gas possesses clear environmental and commercial advantages. These have been among the main factors driving rapid growth in gas consumption across Europe over the past 30 years. Natural gas today accounts for more than 20% of European energy demand, with the potential to increase to around 30% in the next three decades. However, since Europe does not have sufficient indigenous gas reserves, its fast-growing demand must increasingly be fed with imports.
The CIS countries, with their substantial gas reserves and extensive transport infrastructure, represent ideal partners in this respect. Russia in particular has amassed an excellent track record in recent years as a reliable supplier to the European gas industry. Against a backdrop of increasing demand and declining supply, the importance of Russia and the CIS countries as partners in European gas becomes abundantly clear. The opportunity for a much closer natural gas partnership is based on firm foundations:
– huge gas resources
– established infrastructure
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