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Norwegian Gas Exporter Warns Europe May Be on Verge of Blackouts

  • Capacity reserve declining, gas-power generation rising
  • ‘Severe shortage’ seen in U.K., Belgium, Germany: Statoil
Power transmission lines run from an electricity pylon in Braintree, U.K.

Photographer: Chris Ratcliffe/Bloomberg

Europe is facing power generation capacity shortages and may even risk blackouts without additional use of natural gas, one of the continent’s biggest producers of the fuel said.

“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.