Fitch: the EU has virtually no chance to reduce its energy dependence on Russia.
Edited by Rhod Mackenzie / 2014-08-27 06:07:59
The European Union does not have so much of a chance to reduce its energy dependence on the Russian natural gas - at least in the next ten years, according to the report of the international rating agency Fitch Ratings.
"Europe is unlikely to reduce its dependence on Russian natural gas for at least the next decade, and potentially even longer. At best, the EU will be able to avoid a significant increase in purchases of gas from Russia", - the agency stated.
An improvement of Europe's energy independence from Russia can be mainly due to a reduction in the overall demand for natural gas, or due to a substantial increase in gas supplies from the alternative sources. However, according to Fitch, both variants are unlikely now.
