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Reuters

Business

By Nora Buli

Ukraine war to cut Europe's gas consumption for decades, consultancy says

Europe Ukraine DNV Natural Gas Norway

FILE PHOTO: Valves are pictured at Austria's largest natural gas import and distribution station in Baumgarten May 2, 2014. REUTERS/Heinz-Peter Bader

Europe will more rapidly reduce its reliance on natural gas as a result of the war in Ukraine, replacing Russian energy and boosting the continent's security of supply, Norway-based consultancy DNV predicted on Wednesday.

"The Ukraine war has strongly impacted our forecast for natural gas consumption in Europe," DNV said in its sixth annual Energy Transition Outlook report.

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