Daily Sabah‎: Europe's 'Golden Age' of gas set to end

Move towards renewable and alternative energy sources amid fallout with Russia points to decline of gas use, hydrocarbons expert says.

Europe's "Golden Age" of natural gas is coming to an end and it is turning towards other energy sources, Dr Sohbet Karbuz, director of hydrocarbons at the Paris-based Mediterranean Observatory for Energy, has said.

Karbuz told AA in an exclusive interview on Wednesday that long-term natural gas agreements between Russia and EU countries were based on a take-or-pay commitment, meaning countries agree to purchase a set volume over 30 years and pay for it in the event that they break the agreement.

He said: "The cancellation of these contracts, or a serious revision on the agreed gas quantities, is not possible."
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