EU seeks new sources for energy diversification

Oil&Gas Materials 28 November 2014 17:52 (UTC +04:00)

Baku, Azerbaijan, Nov. 28
By Aygun Badalova - Trend:

The EU, which is currently highly dependent on Russia's energy supplies, is interested in any additional source within its diversification strategy.

Currently, the priority project for the EU is the Southern Gas Corridor, which envisages the transportation of the gas from the Caspian region to Europe. Gas which will be produced within the second stage of Azerbaijani Shah Deniz field development will be initial source for the project.

Azerbaijan's gas supplies to Europe in the amount of 10 billion cubic meters will open the Southern Gas Corridor, which will allow Europe to diversify its sources of hydrocarbon supplies and boost energy security.

The projects, which are proposed to be implemented within the Southern Gas Corridor gained "Project of Common Interests" status.
These projects are:

- Gas pipeline from the EU to Turkmenistan via Turkey, Georgia, Azerbaijan and the Caspian - currently known as the combination of the "Trans Anatolia Natural Gas Pipeline (TANAP), the "Expansion of the South-Caucasus Pipeline" and the "Trans-Caspian Gas Pipeline";

- Gas pipeline from Greece to Italy via Albania and the Adriatic Sea - Trans-Adriatic Pipeline (TAP);

- Gas pipeline from Bulgaria to Austria via Romania and Hungary.
At the same time, the EU is looking for more possibilities to diversify its energy supply sources and routes, as it will contribute more to energy security of its countries. The East Mediterranean basin has also potential for that, according to a source in the European Commission.

"The Commission is closely following energy exploration activities in the East Mediterranean basin and encourages any form of regional cooperation," the source told Trend.

The source also added that the East Mediterranean gas finds could play a very important role in helping both producing and neighbouring countries to address their energy security problems.

"They could also have a growing role in the EU's diversification strategy, contributing not only to the security of the region but to the entire EU," the source said.

According to the source, besides the Southern Gas Corridor, the following respective projects with the involvement of Cyprus and Greece have been granted by the EU the status "Project of Common Interests - pipeline from offshore Cyprus to Greece mainland via Crete and LNG storage located in Cyprus (known as the Mediterranean Gas Storage).

Earlier Israeli media reported about Israel's proposal made to the EU under which its gas will be transited to European countries through a new pipeline.

The idea includes a route going across the Mediterranean's seabed to reach Cyprus and then to Greece and Italy. Tamar field, which was discovered by Israel in 2010 is supposed to be a source for the project. In 2013 the country started producing gas from that field.
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