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Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland) - Russia's surprise cancellation of the South Stream gas pipeline project in recent weeks has prompted Europe to accelerate its plans for the 'Southern Gas Corridor'.
New European Union (E.U.) Energy Commissioner, Maros Sefcovic, met with representatives of Austria, Bulgaria, Croatia, Greece, Italy, Romania and Slovenia to push ahead with infrastructure priorities for Central and South-Eastern Europe. Sefcovic told media after the meeting that Europe could be receiving gas supplies from the Caspian region, and bypassing Russia, by 2019.
The working group looked at ways to simplify the political and bureaucratic problems of the implementation of the European energy project.
"We need to explore alternative options to South Stream to ensure energy supply," Sefcovic told reporters. "The most important projects to be completed as soon as possible."
The Southern Gas Corridor has been ongoing for decades and comprises pipelines already operating, those planned and others under evaluation. It is designed to create an infrastructure that will bring gas from the Caspian and Middle Eastern regions to Europe. Countries including Azerbaijan, Turkey, Georgia, Turkmenistan, Kazakhstan, Iraq and Egypt have been identified as potential key suppliers. The corridor could supply up to 10 billion cubic meters of natural gas from Azerbaijan to Europe via the planned Trans-Anatolian Pipeline (TANAP) and the planned Trans-Adriatic Pipeline (TAP) which would run from Turkey, through Greece and Albania to Italy. The European Union (E.U.) believes it could get 20% of its gas needs via the corridor.
About 30% of Europe's gas needs are met by Russian imports. Energy security is a hot topic now thanks to the ongoing Ukraine-Russia conflict. Much of Europe's gas comes through Ukraine. Last month, the European Union negotiated a temporary gas truce between Russia and Ukraine to help secure winter supplies of gas. For additional information, see November 5, 2014, article - Europe Secures Winter Gas.
"All Member States agreed that the E.U. must remain strongly committed to integrating Central and South-Eastern European gas markets and diversifying gas suppliers, sources and routes," the working group said in a joint statement. "The integration of gas markets and the diversification of gas supplies will namely require putting in place the necessary infrastructure and implementing harmonised rules for the benefit of customers in that region. This can be achieved by implementing key regional projects (e.g. LNG terminals with corresponding pipeline systems, connections to the Southern Gas Corridor, or the development of East Mediterranean and Black Sea offshore gas reserves), by improving interconnections within the region, in particular between Bulgaria and its neighbouring countries, and by improving North-South interconnections enabled with bi-directional flows. New routes operated in line with EU law can also contribute to increased security of supply in the region."
The group agreed that in order for this to happen and "in view of the vulnerability of the region as demonstrated in the recent stress tests", it is crucial to swiftly complete projects already underway and speed up development of projects of common interest and strategic importance.
To that end, Member States and the Vice-President welcomed the joint statement signed by Greece, Bulgaria and Romania on the natural gas "Vertical Corridor" connecting their countries.
In early December, Russia announced that it was scrapping the South Stream pipeline project, which would have bypassed Ukraine to supply natural gas to Europe. Russian President Vladimir Putin blamed Bulgaria's reluctance to take part in the project as well as the E.U.'s ongoing sanctions against Russia over its involvement in Ukraine's conflict. For additional information, see December 3, 2014, article - Russia Scraps South Stream Natural Gas Pipeline, Chooses New Route to Turkey.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, three offices in North America and nine international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. To contact an office in your area, visit the Industrial Info "Contact Us" page.
New European Union (E.U.) Energy Commissioner, Maros Sefcovic, met with representatives of Austria, Bulgaria, Croatia, Greece, Italy, Romania and Slovenia to push ahead with infrastructure priorities for Central and South-Eastern Europe. Sefcovic told media after the meeting that Europe could be receiving gas supplies from the Caspian region, and bypassing Russia, by 2019.
The working group looked at ways to simplify the political and bureaucratic problems of the implementation of the European energy project.
"We need to explore alternative options to South Stream to ensure energy supply," Sefcovic told reporters. "The most important projects to be completed as soon as possible."
The Southern Gas Corridor has been ongoing for decades and comprises pipelines already operating, those planned and others under evaluation. It is designed to create an infrastructure that will bring gas from the Caspian and Middle Eastern regions to Europe. Countries including Azerbaijan, Turkey, Georgia, Turkmenistan, Kazakhstan, Iraq and Egypt have been identified as potential key suppliers. The corridor could supply up to 10 billion cubic meters of natural gas from Azerbaijan to Europe via the planned Trans-Anatolian Pipeline (TANAP) and the planned Trans-Adriatic Pipeline (TAP) which would run from Turkey, through Greece and Albania to Italy. The European Union (E.U.) believes it could get 20% of its gas needs via the corridor.
About 30% of Europe's gas needs are met by Russian imports. Energy security is a hot topic now thanks to the ongoing Ukraine-Russia conflict. Much of Europe's gas comes through Ukraine. Last month, the European Union negotiated a temporary gas truce between Russia and Ukraine to help secure winter supplies of gas. For additional information, see November 5, 2014, article - Europe Secures Winter Gas.
"All Member States agreed that the E.U. must remain strongly committed to integrating Central and South-Eastern European gas markets and diversifying gas suppliers, sources and routes," the working group said in a joint statement. "The integration of gas markets and the diversification of gas supplies will namely require putting in place the necessary infrastructure and implementing harmonised rules for the benefit of customers in that region. This can be achieved by implementing key regional projects (e.g. LNG terminals with corresponding pipeline systems, connections to the Southern Gas Corridor, or the development of East Mediterranean and Black Sea offshore gas reserves), by improving interconnections within the region, in particular between Bulgaria and its neighbouring countries, and by improving North-South interconnections enabled with bi-directional flows. New routes operated in line with EU law can also contribute to increased security of supply in the region."
The group agreed that in order for this to happen and "in view of the vulnerability of the region as demonstrated in the recent stress tests", it is crucial to swiftly complete projects already underway and speed up development of projects of common interest and strategic importance.
To that end, Member States and the Vice-President welcomed the joint statement signed by Greece, Bulgaria and Romania on the natural gas "Vertical Corridor" connecting their countries.
In early December, Russia announced that it was scrapping the South Stream pipeline project, which would have bypassed Ukraine to supply natural gas to Europe. Russian President Vladimir Putin blamed Bulgaria's reluctance to take part in the project as well as the E.U.'s ongoing sanctions against Russia over its involvement in Ukraine's conflict. For additional information, see December 3, 2014, article - Russia Scraps South Stream Natural Gas Pipeline, Chooses New Route to Turkey.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, three offices in North America and nine international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. To contact an office in your area, visit the Industrial Info "Contact Us" page.
