Britain 'at risk' over energy supplies

The energy security of the Eurozone's largest economies is highly vulnerable in the short term, with Italy at "extreme" risk, said global analysts Maplecroft.

Over the long term, all eight Middle Eastern members of Opec are at high risk because of their dependence on fossil fuels and failure to invest in alternative energy sources.

Maplecroft's Energy Security Risk Index ranked countries based on factors including their reliance on oil and gas, the security of the sources of their energy imports and their future growth.

Britain was rated medium risk in both the short and long terms, while Germany, France and Spain were considered at high risk in the short term.

Italy was judged one of the world's most vulnerable countries in the short term because it imports 85 per cent of its energy from "unreliable" sources, including Libya, Russia, Iraq and Iran.

The Opec nations dominated the low-risk category in the short- term index.

But the oil cartel's member countries in the Middle East – the United Arab Emirates, Qatar, Saudi Arabia, Kuwait, Libya, Iraq, Algeria and Iran – were all rated high risk over the long term.

Maplecroft analyst Dr Anna Moss said: "A sustained growth in demand for energy has led to serious concerns over the long-term availability of reliable and affordable oil and gas supplies.

"While the Middle East Opec countries have large reserves, without a long-term investment in alternative energy sources, a move away from total dependency on fossil fuels and a reduction in consumption rates, they are subject to long-term risks."