Oettinger: EU Needs to Diversify Gas Routes and Supply

EU Commissioner for Energy Günther Oettinger has said that the EU must diversify its gas routes and sources to ensure the security of energy supply. 

Speaking at the 20th World Petroleum Congress in Doha, Qatar, Mr. Oettinger said that diversification would mitigate any risk to gas supply and ensure security for both recipients and suppliers.

"This is the essence of the European Union's diversification policy," he said. "It is a policy of risk mitigation and economic interest which offers mutually advantageous opportunities to us and to our suppliers.

"It is in the EU's strategic interest to build and enhance comprehensive and long-term partnerships with historical suppliers, new suppliers, as well as other major consumer countries and emerging economies."

He also said that gas would continue to play a major part in European energy supply, with Europe forming the largest single market for gas and electricity in the world at almost a half a billion customers.

Mr. Oettinger's comments come close on the heels of an investigation into possible anti-competition practices into Russian monopoly Gazprom. Mr. Oettinger told journalists last Thursday that the investigation was proceeding in a fair and objective manner.

"The experts in antimonopoly rules carried them [the audits] out with a high level of objectivity," he said.