LONDON (Thomson Financial) - Antonio Brufau, executive chairman of Repsol,
has criticised European politicians' inability to formulate a unified energy
policy.
In an interview with the Financial Times he cited Europe's lack of cohesion
when dealing with powerful oil and gas producers such as Russia and Algeria.
"In terms of energy ... we have to have one single voice, one single policy,
one single market." The fact that Germany negotiated bilaterally with Russia for
gas showed that "Europe was failing", he said.
The balance of power could tip in favour of energy producers if Europe fails
to present a united front, he warned.
Brufau said this lack of unity is also reflected in EU directives on
alternative energy. Efforts by the EU to increase production of bioethanol, for
example, are misguided, as it replaces gasoline, which is in surplus, but fails
to tackle the shortage of diesel fuel.
tf.TFN-Europe_newsdesk@thomsonreuters.com
jms
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