GDF Suez says Caspian gas can diversify supplies to Europe

Caspian gas is an additional source which can contribute to
diversifying energy supplies to Europe, vice president of the French
company GDF Suez for the Caspian region and Iran Philip Hochart said
in Baku, Trend reports.

The US has already started extraction of untraditional sources of fuel
such as shale gas. A GDF Suez spokesman said that it will take
approximately 5 years to reach the pre-crisis level of the gas market,
concerning the production of liquefied gas in Qatar and Yemen. The gas
used to be transported to the USA but today the USA is reducing gas
imports.

Today Europe lacks a demand for gas. But by 2015 European markets hope
to absorb the level of gas supplies, then 2015 there should be a
deficiency from 70 to 100 billion cubic m of gas, the spokesman said.
GDF Suez is among the contractors of search and exploration of
'Apsheron' structure in Azerbaijani sector of the Caspian Sea. State
Oil Company of the Azerbaijani Republic (SOCAR) owns 40% of 'Apsheron'
project, French company Total - 40% and Gaz De France Suez - 20%.