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Europe looks at Iran to Secure LNG Supplies in the
Region
Europe must secure LNG (Liquefied Natural Gas) supplies from Iran, if
it wants to corroborate its energy security in future. However,
political tensions hovering between Iran and rest of the world are
making it almost impracticable.
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"There are a lot of other producers (in the Middle East), but all are
more or less covered by projects already agreed upon," said Dieter
Pfaff, senior VP for Gas Supply Policy Division of E.ON Ruhrgas - German
gas supplier. E.ON Ruhrgas is a unit of E.ON AG. MarketWatch published
Pfaff's statement on March 15, 2007.
Iran enjoys 15% of proven recoverable gas reserves in the world - 2nd
largest in the world, next only to Russia. However, the country still
has not developed an LNG industry, hence a potential key supplier for
LNG companies.
"There is a tight supply market for those who want to get LNG supply
for 2010 onwards," said Pfaff. There're merely three suppliers, namely
Algeria, Russia, and Norway, near to Europe that can produce additional
volumes. This implies that Europe ought to rely on other nations for
securing supplies of LNG to meet its energy demand. Therefore, a largely
unexploited supplier such as Iran is indispensable for the region.
Pfaff further added, ensuring stable rapport between the producers of
LNG and countries that rely on its import is of utmost importance -
laying the foundation of this long-term contract. "Long-term contracts
are a key element for making investment possible," and will remain the
backbone of energy security for Europe.
According to RNCOS report "European LNG Market Analysis", "With
restricted reserves of gas except Russia, LNG imports have become
imperative to maintain gas supplies in the \\Server3\D\Sta ff\Anoy\PR\Ready
For Sir\Europe looks towards Iran to Secure LNG Supplies in the Region-comments.doc
European region. Spain remained the largest importer of liquefied
natural gas in 2005, followed by France. It's expected that the demand
for LNG in Europe will touch a mark of 79-98 Million Tons by 2020."
This research report on "European LNG Market Analysis" helps clients
in analyzing the opportunities critical to the growth of the LNG
Industry in Europe. Key issues and facts analyzed in this report
include: opportunity areas for the players in LNG industry and
challenges they will face in future to survive in the European LNG
industry, factors leading to success in European LNG Industry, LNG
Infrastructure developments in European LNG industry, etc.
About RNCOS E-Services Pvt Ltd.:
RNCOS, incorporated in the year 2002, is an industry research firm.
It has a team of industry experts who analyze data collected from
credible sources. They provide industry insights and analysis that helps
corporations to take timely and accurate business decision in today's
globally competitive environment.
For more information visit:
http://www.rncos.com/Report/IM0304.htm
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