May 8, 2014 / 6:59 PM / in 4 years

Statoil head says no worry about European gas supply amid crisis

NEW YORK, May 8 (Reuters) - There is currently no problem with natural gas supply in Europe, despite tensions between Russia and the Ukraine, said the head of European energy supplier Statoil on Thursday.

“We had a mild winter in Europe and [natural gas] storage is full,” said Helge Lund, Statoil’s chief executive officer at a conference hosted by Columbia University’s Center on Global Energy Policy in New York.

Some concerns have been raised about gas supply in Europe as tensions escalate between Russia and the west over Russia’s involvement in Ukraine. Russia supplies much of Europe with gas, particularly in winter.

Lund said that in the medium and long term improvements are needed to bolster gas supply in the region, but that for now there is no concern of shortage. (Reporting By Edward McAllister and Catherine Ngai)

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