Reuters: IEA head sees no golden age soon for European gas

Europe is unlikely to benefit soon from a coming golden age of natural gas as unconventional sources will not transform supply of the fuel and oil-linked contracts will keep its prices high, the head of the International Energy Agency (IEA) said.

"The rosy global outlook for gas is not necessarily reflected in Europe today," Maria van der Hoeven told an energy conference in Vienna on Thursday. "The verdict on the golden age of gas in Europe? It's unlikely to emerge in Europe any time soon."

She made the comments just three weeks after the IEA's chief economist, Fatih Birol, re-emphasised his thesis that Europe will benefit from a golden age of gas through the availability of new supply sources.  MORE