Europe's Angst About Russian Generosity

St Petersburg is squandering its energy resources, and losing massive funds in the process. This was the main topic at the conference 'Energy of the Russian North-West: on the Threshold of the Next Millennium', organised by the EU Energy Centre for the Ru

<BR>St Petersburg is squandering its energy resources, and losing massive funds in the process. This was the main topic at the conference 'Energy of the Russian North-West: on the Threshold of the Next Millennium', organised by the EU Energy Centre for the Russian North-West Region.<BR>"Russia holds the world's leading position for its ratio between energy consumption and GNP; this index is 3-4 times higher than in West European countries," says Bernard Jamais, director of the EBRD's energy efficiency department. "That energy consumption will kill any economic growth you can count on it. The EBRD has developed several financial mechanisms which could be applied. We worked for two years in the North-West Region, offering specific paths to solving these problems. But to this day, not one ECU has been spent on implementing a Russian energy preservation programme.