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7 Feb, 2007 07:22

IEA concerned about Russia’s ability to meet Europe’s gas demands

IEA concerned about Russia’s ability to meet Europe’s gas demands

Russia's gas exports to Europe may soon be unable to meet demand, according to the International Energy Agency's Deputy Executive Director, William Ramsay

Mr Ramsay claims Russia's Gazprom has a shortfall of up to 2 billion cubic metres of gas per year.

Although the mild winter and lower demand from CIS states following recent price hikes have largely cancelled out the shortage, he believes Gazprom could struggle to meet its supply commitments if it stays focussed on foreign acquisitions rather than domestic output.

He thinks the government's growing control in the energy sector is stalling investment.