FT: European gas projects falter on low demand

The eurozone crisis has set back European Union plans to diversify gas supplies by more than a decade, according to one of Europe’s largest natural gas storage and transportation companies.

The EU has been actively seeking to reduce its dependence for gas on Russia and declining North Sea production, but the chief executive of Snam, the Italian utility recently spun out of Eni, told the Financial Times that new projects were struggling to attract investment because of weak European demand.  MORE