Experts Predict Black-Out Winters in Europe
Russian gas exports to Europe will grow no more than 25 percent and will not surpass 200 billion cu. before 2016, a report of the Oxford Institute of Energy Studies says. Russian is unable to cover a growing energy demand of Europe, and as soon as in 2010 the European Union will face a gas shortage. As early as in winter 2006 it will take its toll on the European energy industry, sparkling power shortfalls, analysts from Cap Gemini says.
Predictions of Oxford scholars echo a review of the Cap Gemini consulting company on the EU power energy market. Cap Gemini forecasts that stable gas supplies to Europe will have a negative effect on the power energy sector. The average power capacity reserve in the EU fell to 4.8 percent from 5.4 percent in 2005 as gas prices in Europe went up 38 percent.
The consulting firm predicts a crisis in the industry in 2010. What is more, EU energy systems may see hikes on power energy prices as well as energy shortfalls in
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