Black Sea could compete with Russia as EU gas supplier

The geopolitics of pipelines between Russia and Europe could change dramatically if non-conventional oil and gas reserves in the Black Sea area were to be tapped, energy experts at a high-level conference said last week.

"The Black Sea resources are very big and could even replace gas supply from Russia," Dinu Patriciu, a Romanian oil man and investor who has already bought up large chunks of the country's maritime plateau, said at the "Black Sea energy and economic forum" in Bucharest...