Reuters: European gas industry in "disastrous" state - trade chief Cirelli
The European gas sector is in a disastrous state and without policies to boost investment, the power supply of some countries could be at risk, a top industry official said on Tuesday.
Europe's gas sector has been hit by low growth in demand for electricity, the renewable energy boom and competition from coal-fired plants, Jean-Francois Cirelli, president of Eurogas, which represents the industry, said in a conference speech and in an interview with Reuters.
Cirelli said EU gas consumption dropped two percent in 2012 after falling 10 percent in 2011. Half of the decrease was caused by lower gas consumption by power plants, the other half to a structural fall in final gas demand, notably the effects of energy efficiency and substitution.