EU needs 15 years to replace Russian gas

TEHRAN, May 06 (MNA) – Energy experts say that European Union will need 10 to15 years to replace Russian gas with African hydrocarbons.

Having introduced sweeping sanctions against Russian energy suppliers, the European Union (EU) is trying to curry favor with African hydrocarbon producers to reduce its dependence on Moscow by almost two-thirds this year.

"The European Union (EU) is clutching at straws," says Dr. Mamdouh G. Salameh, an international oil economist and visiting professor of energy economics at the ESCP Europe Business School in London, Sputnik reported.

 "[The bloc's] efforts to diversify its gas needs away from Russia is a painstaking job that will take years to accomplish if ever."

The EU's turn to Africa comes as no surprise given the latter’s vast energy resources.

According to some estimates, Nigeria has proven gas deposits of 206.53 trillion cubic feet (cu ft); Algeria, ranking second in Africa, is sitting on approximately 159.1 trillion cu ft; and Senegal has 120 trillion cu ft., amongst others.

However, observers indicate that the major obstacle in tapping these vast energy reserves is overcoming underdeveloped infrastructure.

MA/PR

News Code 186478

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