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Sivu: 1Sivu: 2Sivu: 3Sivu: 4Sivu: 5Sivu: 6Sivu: 7Sivu: 8Sivu: 9Sivu: 10Sivu: 11Sivu: 12Sivu: 13Sivu: 14Sivu: 15Sivu: 16Sivu: 17Sivu: 18Sivu: 19Sivu: 20Sivu: 21Sivu: 22Sivu: 23Sivu: 24Natural gas export routes from Russia to Europe. BARENTS SEA NORWEGIAN SEA KARA SEA WHITE SEA ATLANTIC OCEAN NORWAY SWEDEN GU L F FO TH BO NI A FINLAND RUSSIA RT H ER N LI G H TS N O NORTH SEA GULF OF FINLAND ESTONIA GREAT BRITAIN BALTIC SEA LATVIA LITHUANIA HOLLAND GERMANY BELARUS BELGIUM POLAND FRANCE CZECH REPUBLIC SLOVAKIA SWITZERLAND ITALY AUSTRIA HUNGARY TH BRO ERH OO KAZAKHSTAN UKRAINE THE EUROPEAN GAs mARkET The natural gas year 2009 got off to a dramatic start in the European Union when Russia and Ukraine failed to agree on gas and transit prices, resulting in the discontinuation of gas supply via Ukraine to the EU market. The European Commission established the Gas Coordination Group to monitor and control the security of supply of gas. This gave fresh impetus to the development of several alternative natural gas delivery routes, such as Nord stream between Germany and Russia and Nabucco from Central Asia to Europe. European natural gas consumption decreased by 6.4% on the year before. The most important reason for the decrease was the financial recession which caused cuts in the industrial use of natural gas, while household gas consumption was cut by measures to improve energy efficiency. indigenous production covers 36% of natural gas used within the European Union, while the main external sources are Russia (22 %), Norway (19%) and Algeria (10%). the EU market as the price of gas acquired on the basis of long-term supply agreements turned out higher than that of gas purchased as short-term products, such as liquefied gas shipped in. This situation is commonly regarded as exceptional and resulting from the global recession, but it still inspired new debate on the functioning of long-term supply agreements. oblige transmission system operators to set up their own cooperation bodies for gas and electricity markets. NATURAL GAs AROUND THE WORLD The 24th World Gas Conference was held in buenos Aires in early October 2009. it brought together gas experts from 81 countries, including finland. Delegates to the Conference agreed that natural gas still plays a key role in efforts to combat climate change. finnish expertise in the efficient utilisation of natural gas in combined heat and power (CHP) production was presented at the event. in June 2009 estimates regarding the development of the world natural gas market were published in the Natural Gas market Review by the international Energy Agency (iEA). because of the global economic recession, the iEA projected that for the first time in 50 years the world will witness a drop in global gas demand. On the supply side, more liquefied natural gas (LNG) capacity was anticipated to become available during 2009. On the other hand, the iEA pointed out that weak demand could undermine future investment and result in a shortage of natural gas when demand recovers. 25 Closer cooperation finland is developing alternative gas delivery routes with the baltic states. in summer 2009 the prime ministers of finland and the states in the baltic sea region signed a memorandum of Understanding regarding the baltic interconnection Plan. Required by the new internal market directive, a new cooperation organisation, the European Network of Transmission system Operations for Gas (ENTsOG), was founded by European gas transmission companies in December 2009. The organisation has 31 members from 21 European countries, including Gasum.The creation of ENTsOG was connected with the third internal energy market package adopted by the European Union in summer 2009. its regulations Exceptional price development Development out of the ordinary was also seen in the price of natural gas in
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