Azernews.Az

By Gulgiz Dadashova

Russia’s decision to demise a Black Sea pipeline designed to supply gas to Europe opened a new page in the history of rivalry for energy market of South and East Europe, along with reviving the discussions over the Caspian-Black Sea-Europe energy bridge.

The European Union sees the Black Sea region as a “link” between Europe and the Caspian region -- real and promising factor ensuring its energy security. The Black Sea region is quite important area due to availability of alternative ways of transporting energy carriers and transport corridors, connecting Europe and Asia.

So, the Caspian hydrocarbons gain more credibility to overcome possible energy crises threatening the Euro area amid the recent developments taking place in the vast region.

The EU-backed “Southern Gas Corridor" with the estimated value of roughly $50 billion now is the most real project to put an end to Europe’s dependence on a single pipeline. South and East Europe is an interesting destination for the blue fuel supplies embracing many energy hungry countries.

Croatian Prime Minister Zoran Milanovic has said today (December 3) the EU had never been happy with the South Stream project.

“The decision by Russia to abandon the South Stream gas pipeline project will not affect Croatia, because it can have energy supplies from different sources,” he said, stressing that gas supply from Azerbaijan by the Trans Adriatic Pipeline was more important to Croatia.

Hungary’s Foreign Minister Peter Szijjarto also noted that his country is looking at alternative sources of gas, in particular Azerbaijan.

"To secure Hungary's long-term energy supply, we have to look for additional opportunities and gas deliveries from Azerbaijan to Central Europe via the Southern Gas Corridor features prominently in this regard," Szijjarto said.

Possible joining of other Caspian countries, particularly Turkmenistan and Iran in long term to TANAP and TAP pipelines, being an integral part of the 3,500 kilometer-long Southern Gas Corridor gave a hope for the realization of most discussed Caspian-Black Sea-Europe energy bridge bringing Kazakh oil to Europe.

The idea of launching energy bridge between Caspian region and Black Sea was first initiated by Dinu Patriciu, former owner of the Rompetrol Group. The matter is regular supply of oil from Kazakhstan across the Caspian Sea to Azerbaijan onwards to the Black Sea via Georgia.

Romania stated its support to all the important projects for oil and gas supplies from the Caspian region to South and East Europe.

Karoly Borbely, State Secretary at Romania's Economy Ministry, told Trend that Europe is a substantial consumer market for hydrocarbons and Romania favors all the important oil and gas supply projects.

He said the previously proposed idea of the Caspian-Black Sea-Europe energy bridge is very important as it is connected to the energy security of the region.

"Of course, the political will of the Caspian region and Romania, and calculations are necessary," he underlined, noting his country's optimism in this regard.

The European gas industry says the EU’s gas demand is expected to rise to 625 mtoe by 2030, an increase of 43 percent compared to today’s consumption levels. Europe's import dependence has increased in the last two decades and is set to grow to more than 80 percent in the case of oil and gas by 2035.

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