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G7 Ministers Meet in Rome to Discuss Russian Gas Alternatives
May. 06, 2014 02:20PM PST
Oil and Gas InvestingDeutsche Welle reported that the energy ministers of G7 countries met in Rome Tuesday to talk about how Europe can reduce its dependence on Russian natural gas. Russia was expelled from the G8 following the start of recent tensions between Russia and Ukraine. The former soviet nation provides about a third of Europe’s gas supplies.
Deutsche Welle reported that the energy ministers of G7 countries met in Rome Tuesday to talk about how Europe can reduce its dependence on Russian natural gas. Russia was expelled from the G8 following the start of recent tensions between Russia and Ukraine. The former soviet nation provides about a third of Europe’s gas supplies.
According to the publication:
Ministers are discussing a draft 13-point plan that foresees greater connectivity in the gas pipeline network, and investment in gas storage facilities as well as low-carbon energy supplies and energy efficiency improvements. The details of what will be funded will be left to member nations, because of differing priorities – for example, the UK prefers investments in nuclear power, Germany in renewable energy.