Energy demand in Europe is not growing as fast as in other parts of the world but it still constitutes a significant portion of global energy demand. Europe’s share of global primary energy demand is around 14%, although it is likely to decrease to 11-12% by 2030 according to IEA forecasts. While growth is slower than 50 years ago, energy for Europe continues to be a strategic issue.
On July 13 2009, the first international agreement on the Nabucco project was signed in Ankara to ensure gas supply for Europe from the Caspian Region to Austria through Turkey and Eastern Europe. Europeans are to almost 50% dependent on foreign resources for their primary energy demand. Having experienced gas cuts in recent years, resulting in hard times for their industries and residents, Europe would like to become less dependent on Russia by securing its supply from different sources.