CRUDE-OIL AND NATURAL-GAS STOCKS IN WESTERN-EUROPE

In order that Western-European countries (WECs) can remain economically stable, they must maintain uninterrupted and adequate supplies of energy: al present, these largely take the form of crude oil and natural gas. The analysis of stocks held by WECs and movements of crude oil and natural gas from other regions to Western Europe have highlighted the need for a well-defined Western European security energy-supplies policy embracing all WECs. If an energy crisis then occurred, resources could be pooled so that no single country, within the European Community, could be held to ransom. The detailed movements of crude oil and natural gas from exporting countries to individual WECs have been established, along with the crude-oil and natural-gas movements within the European Community itself. Stock levels for crude oil and natural gas for WECs have also been itemised along with estimated days-forward consumption for each country. As a result, the requirements to be included in security policy for crude oil and natural gas for Western Europe have become much easier to determine.