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« A Readers Notes From Tehran On The Uranium Bull Market | Main | Uranium Stocks Test August Lows »

Europe’s Reliance on Natural Gas Challenged!

One of our readers has alerted us to an article by Adrian Michaels in The Financial Times entitled 'Europe urged to raise nuclear capacity' in which the chief executive of Edison issued a warning against regarding Europe's reliance on gas.

Europe’s reliance on gas challenged!

Umberto Quadrino, who is the head of one of Italy's largest utilities said:

If you look at the supply of gas to Europe over the next 15 years, we have to be scared.”

'Scared' is the word, when you consider that close neighbours such as Norway will not be able to meet the escalating demand, so where next? When we scan the horizon for others to fill the gap we have Russia, but there will be competition from China and others. The UK will be closing down their old nuclear plants between now and 2015, so they will have have to find around 20% of their electricity from elsewhere. However demand is rising and one estimate that we saw recently put UK's reliance on gas rising to 83% of its energy needs.

Mr Umberto Quadrino goes on to say:

A nuclear programme at a European level has to be taken into consideration,”

Three cheers for him and about time too!

If you wish to read the article in full please click this LINK.
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Reader Comments (1)

RE: Article on Europe's reliance on Natural Gas....

One company worth a very close analysis I believe is a West Australian uranium explorer " AURA ENERGY" ASX code AEE.

They have significant holdins in SWEDEN and are targetting approximately 300-400 million pounds of Uranium in just 2 of is 6 projects in Sweden . It has a significant suite of holdings in West Australia including a joint venture with Mega Uranium-a Canadian uranium explorer.Further, the junior explorer is in partnership with GCM a London based AIM listed company for uranium in Africa. Could be a great investment..........

January 6, 2008 | Unregistered Commentermalcolm

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