Europe
From Crisis to opportunity Global Investor, 01/2014 Credit Suisse
From Crisis to opportunity
Global Investor, 01/2014
Credit Suisse
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GLOBAL INVESTOR 1.14 — 53<br />
P<br />
7<br />
2014<br />
P<br />
SVK<br />
4.3%<br />
10.4%<br />
P<br />
P<br />
88<br />
P<br />
LTU<br />
6.5%<br />
21.7%<br />
FIN<br />
5.4%<br />
34.3%<br />
P<br />
ROU<br />
4.5%<br />
22.9%<br />
BGR<br />
6.0%<br />
16.3%<br />
GRC<br />
6.3%<br />
13.8%<br />
LVA<br />
5.9%<br />
35.8%<br />
EST<br />
4.7%<br />
25.8%<br />
14<br />
St.Petersburg<br />
P<br />
2,857<br />
P<br />
SOUTH STREAM<br />
CYP<br />
5.2%<br />
6.8%<br />
390<br />
Ankara<br />
Energy import dependence<br />
for <strong>Europe</strong>, 2012<br />
Dependence is high across energy assets.<br />
Given limited tradability, gas is most sensitive<br />
to supply disruption.<br />
Source: Eurostat<br />
imports as a % of total energy consumption<br />
100<br />
80<br />
86<br />
60<br />
66<br />
53<br />
40<br />
42<br />
20<br />
0<br />
Petroleum<br />
products<br />
Gas Total energy Solid fuels<br />
YAMAL<br />
Moscow<br />
BLUE STREAM<br />
SOUTHERN CORRIDOR<br />
BROTHERHOOD<br />
Tbilisi<br />
SOYUZ<br />
Baku<br />
TRANS-CASPIAN<br />
Crude oil and natural gas<br />
imports of origin country<br />
as a % of total imports, 2013<br />
Russia is the most dominant trading partner<br />
for both crude oil and natural gas. However,<br />
gas imports are far more concentrated on a small<br />
number of suppliers.<br />
Source: <strong>Europe</strong>an Commission, Eurostat<br />
ANGOLA<br />
OTHER EUROPEAN<br />
COUNTRIES<br />
IRAQ<br />
ALGERIA<br />
AZERBAIJAN<br />
LIBYA<br />
KAZAKHSTAN<br />
NIGERIA<br />
SAUDI ARABIA<br />
OTHER<br />
NORWAY<br />
RUSSIA<br />
11% 9% 8% 6% 6% 4% 4% 3% 3% 3%<br />
11%<br />
30% 14% 12% 4% 4%<br />
32%<br />
36%<br />
OTHER<br />
NIGERIA<br />
QATAR<br />
ALGERIA<br />
NORWAY<br />
RUSSIA
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