E.ON chief - Europe's gas suppliers to retain position within market

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E.ON - one of the big six energy companies - has claimed that Europe's traditional gas suppliers won't be challenged by new sources delivering gas into the continent, according to an article published by Reuters.

Klaus Schaefer, chief of both Ruhrgas and E.ON Energy Trading, made the claim whilst speaking at the Reuters Global Energy & Environment Summit.

He said: "I do believe we will see Caspian gas in Europe. I also believe we will see more LNG (liquefied natural gas) arriving in the future.

"The traditional suppliers will mostly keep their position," he added.

There are a number of pipeline projects looking to transport gas from new Caspian sources, such as in Azerbaijan, to Europe once the reserves on the continent run out.

Recent data provided by Eurogas has displayed that Europe produces 35 per cent of gas requirements; while Russia and Norway hold the majority of the EU-27 market share - with 22 per cent and 19 per cent respectively.

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