Economic study examines Middle East gas line to Europe

Europe’s gas import needs are projected to grow dramatically over the next 3 decades.The International Energy Agency (IEA) has forecast gas consumption in Europe to increase to 900 billion cu m (bcm) in 2030 from 480 bcm in 2000. The main driver for the forecast increase in gas consumption is electric-power generation.With a slight decline in gas production over that time, Europe’s gas imports are to increase to 625 bcm in 2030 from 180 bcm in 2000.The largest of the world’s gas reserves are concentrated in two areas near Europe: the Middle East and the Commonwealth of Independent States (CIS). The Middle East has the largest gas reserves in the world, with 72 trillion c...

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