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S&P Sees More LNG in Europe.
(From The Moscow Times)
Western Europe will increasingly look toward liquefied natural gas shipments to reduce its dependence on pipeline deliveries from Gazprom and other suppliers, Standard & Poor's said Thursday in a report.
European demand for LNG is expected to grow 14 percent per year through 2010, S&P said, rising from 34 million tons in 2004 to 73 million tons in 2010. Italy and Britain's thirst for the liquid gas will grow the fastest. Currently, Qatar, Nigeria, and Algeria supply most of Europe's LNG.
In order to ensure reliable gas deliveries with minimal risk, European power plants and utilities will look to increase liquid gas deliveries. Shipped to special terminals, LNG has the advantage of not tying gas consumers to a particular supplier, said Karim Nassif, one of the authors of the S&P report.
Nassif said Gazprom's ...
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