Putin Says Renewable Energy Not the Solution over Gas

February 11, 2010 /EIN PRESSWIRE/ As Russia prepares its Nord Stream project to provide natural gas to Europe, Russian Prime Minister Vladimir Putin said at a press conference with Finnish Prime Minister Matti Vanhanen that LNG and alternative fuels are not the answer to the short-term energy supply problems.

Putin said, “Fortunately or unfortunately, neither solar power nor firewood nor dried manure can replace hydrocarbons in the next 20-25 years.

“As far as natural gas reaching Europe by pipelines is concerned, this gas will always be cheaper than liquefied gas.”

Russia’s Gazprom saw a sizeable export slump in 2009 due to the economic slowdown and the surge in unconventional gas supplies in the US. Liquefied natural gas (LNG) supply drove gas prices in Europe below Russian prices, which in effect led Gazprom customers to buy as little Russian gas as contractually obligated. Gazprom believes gas consumption will return to normal over time.

Read more at Gazprom Daily Report:

Latest Gazprom Pipeline news – http://gazprom.einnews.com/news/gazprom-pipeline
Latest Gazprom & Putin news – http://gazprom.einnews.com/news/gazprom-putin
Latest Gazprom & Environment news – http://gazprom.einnews.com/news/gazprom-environment

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