Europe Must Do More to Develop Shale Gas

The chief executive of Italian energy company Eni SpA says Europe must do more to develop shale gas.

"We should be doing the most on shale gas in our continent, because domestic conventional gas is decreasing rapidly in traditional gas producing countries," said Paolo Scaroni.

The head of the Italian energy giant said that Europe will one day consume more gas than oil as it offers a cleaner alternative.

"Gas consumption will be in excess of oil consumption in Europe simply because the best way to meet CO2 targets is to replace coal with gas," he said. "If some countries really want to get out of nuclear, I don't see any other way to provide electricity," than natural gas.

Scaroni said that gas infrastructure is increasingly important and that Europe had to take measures better integrate its pipeline network in order to improve energy security.

Greater reliance on gas means Europe needs to improve cross-border pipeline connections, he said.

"Creating a network of pipes which connect the different countries of Europe is essential to give security of supply," he said, adding that this could require the creation of a single European pipeline authority.