Events in Arab world and Japan will increase EU's interest in Caspian energy resources

Azerbaijan, Baku, March 16 /Trend, V.Zhavoronkova/

Political instability in the Arab world, as well as an accident at a nuclear power plant in Japan will increase Europe's interest in importing energy resources from the Caspian region, said a European energy expert Neil John Melvin.
The political situation has destabilized in the Arab world, rich with energy resources, which reduced the trust of the world's buyers of oil and gas in it.
As a result of the devastating earthquake on March 11 and the tsunami in Japan, an accident occurred at a nuclear power plant, which led to a significant increase in radiation levels.

"Global energy market is going to be in a turmoil following the events in Japan and the Middle East, which I think would make a push now from European side to bring these hydrocarbon resources to the European market even more strong, European Energy Agency member and expert of the Stockholm International Peace Research Institute (SIPRI) Neil Melvin told Trend in a telephone conversation from Sweden.
He said after events in Japan, there will be a major review of nuclear power around the world, and many of European countries, which are using nuclear power, may have to reduce that.
So in the mediate period, before they bring other kind of resources, oil and gas would probably be the first choice, the analyst said.

"Those point to a further rise in the importance of hydrocarbon resources in the Caspian region," he said.
The energy resources, exactly natural gas, is scheduled to be delivered from the Caspian region to Europe, through the Southern Corridor projects, which includes such routes as Nabucco, Trans-Adriatic pipeline (TAP), White Stream, ITGI (Turkey-Greece-Italy) .
Southern Corridor is a priority for the EU, and aims to diversify routes and sources of supply, thereby increasing the energy security of the EU.

Melvin said when to see how much electricity is generated in Europe from nuclear power (in countries like Germany, Bulgaria, France, UK etc.), the whole European market now faces possibly a reduction in the amount of power generated by nuclear.

"And Europe has to bridge that gap somehow," the expert said.
However, despite the increase in EU's interest in the energy resources of the Caspian, the time-table for Nabucco is probably going to be pushed back further, he said, adding that we might see the consolidation of different European projects now.
The revision of gas pipeline projects can be caused also by extremely high prices for materials and services. In particular, the increase in steel prices has raised the question to revaluate the budgets of these projects, including Nabucco.
"I think the prospects may be combining parts of Nabucco with parts of some other projects like ITGI," he said.
The expert said publicity at a degree of consolidation is going around all these pipelines in the next few months.

E.Ostapenko contributed to the article.

Azerbaijan can take steps to include its underground water channels into UNESCO list
Azerbaijan can take steps to include its underground water channels into UNESCO list
Iran increases exports from Gilan Province
Iran increases exports from Gilan Province
Bahar Azadi gold coin price rising in Iran
Bahar Azadi gold coin price rising in Iran
Loading Bars
Latest
Kazakhstan taking measures to double agriculture goods export via digitalization
Kazakh KazMunayGas to continue improving sustainable dev't activities
Turkmennebit State Concern puts new productive wells into operation
Azerbaijan can take steps to include its underground water channels into UNESCO list
Turkey's October 2020 car exports to France increase
Azerbaijan's AccessBank looks to regain share in agricultural lending
UAE boosts import of defense industry products from Turkey
Uzbek Agriculture Ministry reveals volume of harvested raw cotton
Iranian currency rates for December 2
Trading in shares of Xiaomi halted pending share sale, bond issue statement
Demand for Turkish cars in Kazakhstan increases
Albgaz invites bids for maintenance of TAP section in Albania
Albania ready to offer full range of gas network maintenance services for TAP
Azerbaijani currency rates for Dec. 2
Fuel demand to recover over 2021-2022, while growth rates to soften
Turkmenistan’s Turkmengas plans to increase productivity of wells
Uzbekistan reveals its COVID-19 data for December 2
Cargo traffic to/from Azerbaijan via NSTC carried out regularly
Azerbaijani branch of Romanian IT GRUP talks plans for 2021
OPEC+ failure could be highly detrimental for oil prices
SecGen of OIC sends letter to President of Azerbaijan
Gov't spokesman warns against quick decisions on Iran's nuclear program
Kazakh power networks maintenance company to buy construction materials via tender
Japan ruling party weighs up inheritance tax exemption for foreigners
Iran ready to share scientific achievements with friendly countries
Georgia to increase price of natural gas for commercial consumption starting January
Singapore becomes first country to approve sale of lab-grown meat
Turkey, EU cooperation key to fight hate, discrimination in Europe: Comms Director Altun
683 COVID-19 cases among schoolchildren registered in Kyrgyzstan in 3 months
State-owned enterprises in Georgia lose about 130 mln GEL due to pandemic
Eurozone manufacturing sector expands at slower pace
Borrell highlights terrorist nature of Fakhrizadeh assassination
Kazakhstan invites Hungarian companies to jointly hold geological exploration
Bezos' Blue Origin taps former Pentagon, NASA officials for new advisory board
Ford announces 580 mln USD investment in Argentina
Cement price up in Uzbekistan due to decrease in production volumes
House seen backing bill that could block Chinese firms from U.S. securities markets
Lebanon central bank can keep subsidies for only two more months
Nigerian troops kill 5 gunmen, rescue nine hostages
Israeli archaeologists discover 2,000-year-old game dice
Tesla CEO says he is open to friendly deal with rival carmaker
Uzbekistan’s export of furniture products to Italy down
Iran increases exports from Gilan Province
Kazakhstan’s freight transportation operator opens tender to buy spares
FAA issues new first air certificate for Boeing 737 MAX since 2019
Number of Kyrgyzstan’s recoveries from COVID-19 reaches 64,711 with 560 new ones
Georgia to participate in discussion on Black Sea security at NATO Foreign Ministerial
Bahar Azadi gold coin price rising in Iran
Turkey to start COVID-19 vaccination drive after Dec. 11
COVID-related restriction may complicate procedures for car registration in Georgia
Euronews prepares reportage from Azerbaijani Aghdam liberated from occupation (VIDEO)
AP highlights aspects of Armenian Armed Forces withdrawal from districts of Azerbaijan
Israeli airline conducts 1st commercial passenger flight to UAE
Humiliating prisoners of war is not characteristic of Azerbaijani people - State Security Service
Quarantine regime to affect some investment projects of Kazakh national oil company
Equal number of Russian, Turkish personnel to work in center to control ceasefire in Nagorno-Karabakh
Georgian IT sector to arouse investor interest
Azerbaijani marine infantry personnel return to place of permanent deployment (PHOTO)
Delivery process of logistic support assets for peacekeeping contingent in Azerbaijan continues (PHOTO/VIDEO)
Georgian economy sees decrease due to COVID-19 lockdown
Return of Lachin district by Azerbaijan has not only important political, but also economic significance - Georgian expert
AP publishes article highlighting political success of Azerbaijan over Karabakh conflict
Foreign trade operations between Azerbaijan and Poland up
Georgia reveals details of Fourth Stage of Anti-Crisis Plan
Azerbaijani Culture Minister gives interview to France 24
Gradual liberalization of wholesale and retail electricity markets defined in Georgia
Import of aluminum by Azerbaijan up
Georgia approves volume of external debt planned for 2021
Development of well-functioning gas hub to diversify Georgia’s gas market
Uzbekistan, Belarus eye signing mutual tourism dev’t agreement
Demand for tobacco products in Azerbaijan may decline amid pandemic crisis
UAE based company to grow cannabis in Uzbekistan’s Syrdarya region
Fiat brand to electrify 60% of its models by end-2021
Azerbaijani Finance Ministry auctions state medium-term bonds
Georgian hazelnut-producing company faces with complex logistics
Iranian Energy Exchange announces products to be on sale on December 2
Number of phishing attacks on Azerbaijani web sites down
European culture to have new dimensions with Lachin's liberation - US expert
Enagas working on 12 projects in hydrogen developments
Spanish Enagas moving towards more sustainable energy model
Azerbaijan's mortgage fund puts up new bond tranche for auction
Georgia names number of beneficiaries of discount cards under agro-diesel promotion program
World Bank helps Georgia to purchase equipment in its fight against coronavirus
Italy decreases crude petroleum oil import from Kazakhstan year-on-year
Azerbaijan's minister of transport meets UK ambassador
Municipality of Italy's Milan adopts document in support of Azerbaijan
Ganja teenager won a bronze medal at the International Olympiad in Informatics!
Production at Azerbaijan’s Kursangi, Garabagli fields adjusted under OPEC+ deal
Georgia reveals Top-5 insurance companies by car insurance premiums
Israeli startups raised over $900m in November
Afrosiyob Palace hotel in Uzbekistan’s Samarkand region put up for auction
Absolute volume of mortgage loans in Azerbaijan grows in 10M2020
Kazakhstan creating e-maps of farmlands to support farmers
Projects linking Turkmenistan with South Caucasus may be of great interest to Belgium - ambassador
Georgia sees increase in persimmon and caraway seeds export
Uzbekistan meets criteria for participation in GSP+, EU commission says
Kazakhstan-based ArcelorMittal Temirtau JSC looks to expand export supplies
Azerbaijan increases production of construction materials
BP PETROLLERİ A.S. reduces aviation fuels exports
First VP Mehriban Aliyeva congratulates Azerbaijani people on liberation of Lachin (PHOTO)
All news