Obama Pitches Shale Gas to Europe Seeking to Cut Imports
March 31, 2014
The crisis in Ukraine underscores the need for the European Union to consider imports of natural gas from the U.S. and development of domestic resources to diversify supplies, President Barack Obama said.
The annexation of Crimea by Russia pushed the 28-nation EU to accelerate its search for ways to cut reliance on imports from Russia's OAO Gazprom (OGZD), the main supplier of gas to Europe through Ukrainian pipelines. Europe depends on purchases from abroad for more than a half of its energy consumption and governments in the bloc are divided over exploration for shale gas, which has brought the U.S. toward energy independence.<- Go Back