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EU gas prices four times higher than in US

14th January 2014
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The average price EU industry paid for gas in 2012 was four times higher than in the US, Canada and Russia, a new report from the European Commission stated.
Individual consumers paid 2.5 times more than North American households, although prices in Japan are double those in the EU, and 30 percent less than in New Zealand.
While the report says that shale gas extraction has been a boon for the US, it was cautious in highlighting the positive aspects of European shale gas extraction.
The Commission report estimates that the opening up of the energy market will increase competitiveness, which will in turn lead to cheaper energy prices.
The EU report is set to be published on January 22, along with a project for energy and climate policy up until 2030 and guidelines for shale gas extraction.

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