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Europe's Russian gas dependency to surge

Development of LNG trains central to bridging rapidly expanding import gap

  European demand for gas is expected to remain “very resilient” while domestic supply dwindles, a research analyst at consultancy Wood Mackenzie told the Gastech conference in Houston, leaving a widening import gap that Russia is best placed to fill. While European indigenous gas supply continues to decline, national governments enacting policies to phase out coal are supporting demand for replacement sources for energy generation. Murray Douglas, from Wood Mackenzie’s European gas research team, highlights a trend that began with COP 21 in Paris in 2015 and then, in late 2018, “we had the European Commission really set out a strategic long-term vision” to become climate neutral by 2050.

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