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| 1 |
ID:
101420
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| Publication |
2011.
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| Summary/Abstract |
This communication reviews the oil and natural gas resources, reserves and proved reserves of the European Union (EU) and the European Economic Area (EEA). Experts may apply different methodologies and classifications to assess hydrocarbon deposits, which makes their coherent and sound evaluation a challenging task. The analysis presented in this paper shows that there is variation in reported estimates for the EU and EEA oil and gas proved reserves, which is however relatively small; and EEA holds very small and continuously declining shares of world oil and gas proved reserves, about 1.3% and 2.9%, respectively. Nevertheless, conventional reserves and resources and more importantly unconventional gas resources offer a significant potential to increase the European proved reserves. This however requires the proper mapping and assessment of these sources and a rigorous research and development programme for the exploitation of this untapped potential, which could play a significant role in the security of the European energy supply in the years to come.
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| 2 |
ID:
097273
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| Publication |
2010.
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| Summary/Abstract |
The paper presents a view into the long term future of fossil-fuelled power generation in the European Union, based on a number of alternative scenarios for the development of the coal, natural gas and CO2 markets, and the penetration of renewable and nuclear technologies. The new fossil fuelled capacity needed and the likely technology mix are estimated using a cost optimisation model based on the screening curve method, taking into consideration the rate of retirement of the current power plant fleet, the capacity already planned or under construction and the role of carbon capture and storage technologies. This analysis shows that measures to increase both non-fossil-fuel-based power generation and the price of CO2 are necessary to drive the composition of the European power generation capacity so that the European policy goal of reducing greenhouse gas emissions is achieved. Meeting this goal will however require a high capital investment for the creation of an optimal fossil fuel power plant technology mix.
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