...

Southern Gas Corridor to ensure guaranteed gas supplies to Europe

Oil&Gas Materials 11 February 2021 12:54
Southern Gas Corridor to ensure guaranteed gas supplies to Europe

BAKU, Azerbaijan, Feb.11

By Leman Zeynalova – Trend:

Europe will receive extra gas that it needs via the Southern Gas Corridor and that will be important in the future as the population increases and the demands for more heating and electricity grow, not only for homes, but for businesses also, the US expert on Central Asia Bruce Pannier told Trend.

“Additionally, it gives Europe another source of gas. That is always important when negotiating price with other suppliers or in cases when relations with one supplier become complicated, leading to reductions or suspension of supplies from that one supplier. It ensures Europe cannot be cut off from imports of gas.

Southern Gas Corridor could in the future greatly increase the amount of gas that flows to Europe and give countries in Europe a guaranteed supply of gas for many years,” said the expert.

Pannier noted that countries in Europe will certainly benefit from reliable supplies of gas, but obviously gas suppliers will make a lot of money from sales.

“Predictions are that Europe will need 200-300 bcm of imported gas in the coming years. So, the need is there and it is a stable market, able to pay for gas supplies it receives. That makes Europe a valuable customer that any gas producer would like to export to. So, in ideal conditions, Azerbaijan, Turkmenistan, Iran, Iraq, possibly even Kazakhstan and Uzbekistan could all benefit from a totally open Southern Gas Corridor.”

---

Follow the author on Twitter: @Lyaman_Zeyn

Tags:
Latest

Latest