Reuters: Europe's LNG supplies to drop 70 pct by 2015

Supplies of liquefied natural gas (LNG) to Europe are likely to drop by almost 70 percent by 2015 as the booming Asian market sucks up cargoes, Barclays said on Thursday.

As a result, Europe will continue to rely largely on pipeline gas from sources such as Russia and Norway to meet its natural gas needs, Barclays Capital said in a research note.

After 2015, rising Australian and U.S. LNG exports should push supplies back to current levels, it added.  MORE