S&P Global Platts: Southern Gas Corridor to help Europe reduce coal generation

S&P Global Platts: Southern Gas Corridor to help Europe reduce coal generation

BAKU, Azerbaijan, Dec.20

By Leman Zeynalova – Trend:

The Southern Gas Corridor will help Europe reduce coal generation, James Huckstepp, EMEA gas analyst, S&P Global Platts, told Trend.

He noted that about one quarter of all the energy used in Europe is natural gas supplied by a combination of pipeline imports, liquefied natural gas (LNG) deliveries and indigenous production.

“European coal generation has already fallen 40 percent between 2018 and 2019, largely on the back of stronger gas supply, lower prices, and a switch from coal to gas in the power sector, but also with the ongoing decommissioning of coal generation. The Southern Gas Corridor will help to accelerate this effort, particularly in Italy which plans to expand its gas fired generation capacity with 7.5 GW of new gas fired generation over the next 5 years. Greece and Hungary have also joined a growing number of countries with coal phase out plans, setting 2028 and 2030 exit dates respectively,” said Huckstepp.

He pointed out that natural gas generation is roughly 50 percent less carbon emitting than equivalent coal, with less than a third as much nitrogen oxides and 1 percent as much sulphur oxide.

“Azerbaijani gas will provide European markets with an additional supply source, increasing competition and negotiating power with other providers (such as Russia or Algeria). Southern European gas hubs lag far behind NW Europe in terms of liquidity and competition, but this new source of gas will help Southern Europe and Italy’s PSV in particular establish itself as a major European hub,” noted the analyst.

The Southern Gas Corridor is one of the priority projects for the EU and envisages the transportation of 10 billion cubic meters of Azerbaijani gas from the Caspian region through Georgia and Turkey to Europe.

The launching ceremony of the first stage of the Southern Gas Corridor was held in Baku on May 29, 2018, while opening ceremony of TANAP’s Phase 0 was held on June 12, 2018 in the Turkish city of Eskisehir. TANAP-Europe connection was opened on Nov.30 in Ipsala, Edirne, Turkey.

Trans-Adriatic Pipeline (TAP) and Trans-Anatolian Natural Gas Pipeline (TANAP) were connected on the Turkish-Greek border.

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Follow the author on Twitter: @Lyaman_Zeyn

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