Europe must harness more energy from the wind, sun and sea and tap new gas sources in Africa and the Caspian, the European Commission said today, as the EU seeks to kick its dependence on Russian gas.
"Energy prices have risen by an average of 15% in the EU in the last year - we have to address this urgently," Reuters quoted European Commission President Jose Manuel Barroso as saying in a statement.
The 27-nation bloc is seeking to reduce its reliance on Russian gas after pricing disputes between Russia and transit states disrupted supplies in recent years and Russia's invasion of Georgia in August stoked tensions.
The Commission will seek firm gas supply commitments from Azerbaijan and Turkmenistan, and will look at creating a consortium for buying Caspian gas, the European Commission's Strategic Energy Review said.
Russia's Gazprom is considering US giants ExxonMobil and ConocoPhillips for its liquefied natural gas project in Russia's Arctic Yamal region, its deputy chairman said today.
The world could eliminate fossil fuel use by 2090 by spending trillions of dollars on a renewable energy revolution, the European Renewable Energy Council (EREC) and environmental group Greenpeace claimed today.
Investment spending by Norway's oil and gas industry should rise to Nkr136 billion ($20.15 billion) next year despite a deteriorating global growth outlook and lower oil prices, a lobby group said today.
