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Europe Needs Diesel Fuel of Russia
Europe’s oil companies and consumers apprehend material shortage of diesel fuel on the market and stake on Russia to tackle the problem. But the chances that Russia’s oilmen will notably step up production of diesel fuel are very slim.
Meeting Europe’s demand for diesel fuel was the highlight of Platts European Refining Markets conference that ended in Brussels yesterday. Indeed, the shortage of this fuel is predicted to increase over 3.5 fold by 2020.
According to Wood McKenzie agency, the 2006 shortage was just 17 million tons, but the amount will step up to 55 million tons by 2015 and to 60 million tons by 2020 if the trend survives. Even now, the problem is particularly acute in some states of Europe. Spain, for instance, annually lacks 12 million tons of diesel fuel already.
The countries of former Soviet Union, first of all Russia, are the key suppliers of diesel fuel to Europe. Nowadays, Russia exports roughly 25 million tons there and the amount is expected to double by 2030. At the same time, less than 15 percent of Russia’s diesel fuel corresponds to the Euro-4 standard, while the remainder is directed to European plants for additional processing.
www.kommersant.com
All the Article in Russian as of Oct. 24, 2007
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