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Global market likely to see gas excess in 2015
RBC, 06.11.2009, Moscow 11:23:42.Major natural gas producers may face an excess on the global market by 2015, the RBC Daily newspaper reported today, citing foreign media. According to the publication, this information is contained in the annual report World Energy Outlook of the International Energy Agency (IAE), which will be presented on November 10, 2009. The IAE expects the excess of gas pipelines and liquefied storage facilities to reach 250bn cubic meters by 2015, which is four times the capacity of gas pipelines. With this in mind, such countries as Russia, Iran and Qatar - countries that control a major part of the global gas deposits - are likely to be affected the most by the situation. Meanwhile, Gazprom - the major gas supplier - will be hit hard, as the company will find itself at risk of losing its influence over other countries consuming and transiting Russian gas. Although Russia will still be an influential gas exporter to the EU, Europe may turn its attention to cheaper suppliers - North Africa and perhaps even the Middle East.
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