Credit crisis threatens gas markets: industry

CERNOBBIO, Italy (Reuters) – The credit crisis may threaten the security of gas supplies and hinder new investments in the sector after hitting confidence in gas trading, according to participants at an international energy conference.

“The effect of the credit crisis on new capital-intensive export projects will be material for security and diversification of supplies,” Domenico Dispenza, chairman of the Eurogas association, told the European Autumn Gas Conference at the lakeside town of Cernobbio in northern Italy on Tuesday.

The knock-on effects of the crisis were affecting both the European Union and its gas suppliers, highlighting their interdependence, Dispenza said.

Reuters