Norwegian gas exporter warns Europe may be on verge of blackouts

“A severe shortage” in generation capacity is expected in the U.K., Germany, and Belgium, Tor Martin Anfinnsen, senior vice president for marketing and trading at Statoil ASA, said in an interview at a conference in Amsterdam on Tuesday. Those countries are phasing out or cutting coal-generation fleet and Germany and Belgium are also turning away from nuclear power. “If you have a dangerous bend in the road and everyone knows there is a dangerous bend but nothing is done with it unless there is an accident in the road,” Anfinnsen said. “Is that what we will see in Europe in power generation as well? Will we have to see blackouts before you see a change in policies? That remains to be seen but we are getting dangerously close in many markets.” -- More...