July 2013, Vol. 240 No. 7

Features

Approaching Homestretch In Race For Caspian Gas

The world of energy is changing at an unprecedented pace. As we look ahead, that change appears to be both fundamental and inexorable. Many governments in Europe have stepped back from previous commitments to nuclear energy and realized that immediate prospects for renewables appear less encouraging. By contrast, the outlook for the global gas industry in the long term is quite positive. The shale gas boom in the United States has brought down the price of energy for the first time in years, helping to stimulate economic recovery. While shale may not have the same game-changing impact in Europe, the continent is now closer than ever to diversifying its own sources of gas supply.