Europe's demand for Russian gas grows

03/07/2005
European demand for natural gas from Russian and central Asia is projected to grow to 330 billion cu m in 2020 from 145 billion cu m at present, said Aberdeen consultant Wood Mackenzie Ltd. in a Feb. 22 report.“Fundamentally, Russia’s supply potential is not in doubt; in fact, it has ample reserves to sustain production at current levels for approximately 85 years and significant exploration upside,” said Tim Lambert, vice-president of consulting, Wood Mackenzie.“The bigger issue is that increasing exports to the level required by Europe implies huge investments,” Lambert said. “We estimate a total capital expenditure requirement in Russian gas fields a...
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