Eni CEO: Europe Must Do More to Develop Shale Gas

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PARIS (Dow Jones Newswires), Oct. 18, 2011

Europe must do more to develop shale gas--the fast-growing technique of cracking open shale rock to release natural gas--and better integrate its pipeline network in order to improve energy security, the chief executive of Italian energy company Eni said Tuesday.

Gas infrastructure is increasingly important because Europe will one day consume more gas than oil as it offers a cleaner alternative,
Paolo Scaroni said on the sidelines of the International Energy Agency ministerial meeting here.

"We should be doing the most on shale gas in our continent, because domestic conventional gas is decreasing rapidly in traditional gas
producing countries," Scaroni said.

"Gas consumption will be in excess of oil consumption in Europe simply because the best way to meet CO2 targets is to replace coal with gas," he said. "If some countries really want to get out of nuclear, I don't see any other way to provide electricity," than natural gas.

Greater reliance on gas means Europe needs to improve cross-border pipeline connections, he said.

"Creating a network of pipes which connect the different countries of Europe is essential to give security of supply," he said, adding that
this could require the creation of a single European pipeline authority.

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