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    Voice of Russia: EU-Russia gas supply partnership

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Summary

Despite recent plans to diversify energy supplies in the future and the recent anti trust probe, Russia could still remain Europe's key supplier for the next century.

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Press Notes

Voice of Russia: EU-Russia gas supply partnership

Partnership, Europe's dependence, or interdependence between Russia and the European Union, there are many ways people use to define the EU-Russia relationship around natural gas. Even if Europe does try to diversify its energy suppliers and partners, or even redefine the rules of the game, gas could still remain the continent's key energy resource for the next century and Russia, its main supplier.

More than half of the European Union's (EU) energy including solid fuel, crude oil and natural gas, is imported from non-member countries. This proportion has gradually been rising over the past ten years, from 47.8% in 2000 to 54.1% in 2010.

The EU's dependency on imports of natural gas reached 62.4% in 2010, compared to just 48.9% in 2000. Where Europe imports its energy from has also evolved; in 2010, more than 70% of imported natural gas came from Russia, Norway and Algeria. Russia remains the main gas supplier, even though its share of the European market has dropped from 45.1% in 2003 to 31.8% in 2010.

Russia is the world’s second-largest producer of natural gas after the United States and for the European Union, Russia is a “key partner” according to Jerome Ferrier, President of the International Gas Union, speaking at the Russia Gas 2012 forum. Despite a current "antitrust" investigation, into Gazprom’s activities in Central and Eastern Europe, being carried out by the European Commission, Russia (and Gazprom) should continue to be crucial players in the European gas market. According to the Russian Gas Society President, Valery Yazev, there is no doubt, even if the use of renewable energy is rising, Europe will still need Russian gas.

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