Statoil CEO Says Sees Signs of Gas Demand Recovery in Europe

Reuters

TROLL A PLATFORM, North Sea, June 2 (Reuters) - Norwegian energy firm Statoil sees some signs of gas demand in Europe recovering after years of decline, particularly in Britain, its chief executive told Reuters on Tuesday.

"For some years we have seen a reduction in the European gas consumption starting with the financial crisis, with coal substituting gas in the power generation segment and that has been a very disappointing development for us," Eldar Saetre said.

"There are some positive signs that hopefully will at some point be a turning point for gas," he added during a visit to Statoil's Troll A platform in the North Sea, the key source of Norwegian gas.

(Reporting by Stine Jacobsen, writing by Nerijus Adomaitis, editing by Terje Solsvik)

Copyright 2017 Thomson Reuters. Click for Restrictions.

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