SAINT PETERSBURG (AFX) - EU Commission president Jose Manuel Barroso said the EU needs to increase the diversity of its energy sources and be less dependent on imports of Russian gas.
He said the EU is expected to depend on imports for 70 pct of its gas by 2030 compared with 50 pct currently.
'In other words we will need an additional 200 mln tonnes of oil equivalent, but Russia is only expecting an increase in exports of 50 mln tonnes,' he told a news conference.
He said all G8 members need to look beyond existing sources of energy and diversify in terms of country of origin, country of transit and type of energy.
But he said such a strategy is not a hostile move against any specific supplier, such as Russia.
'Even if Russia makes all the investment it is planning to do now, it will be not enough for all the demand we are expecting 20 or 30 years from now. That is why we have to invest in other technologies...we have to invest also in diversity of supply routes so that the market can function properly,' he said.
On the question of possible increased access for Gazprom to European markets in transport and distribution of gas and greater scope for foreign companies to invest in Russian gas and oil production, Barroso said the key principle that should apply is one of reciprocity, so that there is a level playing field in the energy sector.
'We believe that those who have access to our market should also accept that there should be open access to their market from European companies,' he said. steve.whitehouse@afxnews.com sw COPYRIGHT Copyright AFX News Limited 2005. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News. AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited