European Institute

Nikos Tsafos is a Manager specializing in natural gas with PFC Energy.

U.S. Success Not A Blueprint For Europe

Europe, a continent where energy security--or insecurity--is a major source of anxiety, is beginning to look at the US success with shale gas, tight gas, and coal-bed methane gas, known collectively as “unconventional gas,” as a possible source of deliverance from its energy troubles. And the Russians, who are Europe’s largest supplier of natural gas, are genuinely worried that production could take off. Alexander Medvedev, the deputy head of Gazprom, recently expressed concern that gas from shale in the United States was a “dangerous development.” He meant, of course, that shale gas could perpetuate the current glut in global supplies, keeping profits down for Gazprom.

Leading experts from both sides of the Atlantic discussed the re-emergence of nuclear power as a complementary asset in the drive to de-carbonize energy resources. In addition to evaluating current demand for nuclear power and the relative cost and capacity issues inherent in the industry's expansion, participants also addressed the challenge of nuclear safety and waste disposal, as well as the current financial and regulatory environments.

By now most world leaders have realized the dangers of climate change, and many have launched initiatives to limit carbon dioxide emissions that are the main cause of greenhouse gases and global warming. Because they are so big, they are challenging to contain. Alongside them, there are other smaller but important contributing factors that are relatively easy to curb but are too often overlooked by leaders looking at the big picture.