BAKU, Azerbaijan, Feb.11
By Leman Zeynalova – Trend:
The clear positive effects of the Southern Gas Corridor (SGC) is increased security of supply and diversification of resource supplies, Cyril Widdershoven, a Middle East geopolitical specialist and energy analyst, a partner at Dutch risk consultancy VEROCY and Global Head Strategy Risk at Berry Commodities told Trend.
“With an additional inlet for natural gas, non-Russian based, overall energy security inside of EU is increasing in theory. The main goals should be provision of additional volumes of natural gas to markets not yet covered, especially South-East Europe, while adding to already large markets in South Europe,” the expert said.
Prospects of expansion of the SGC are still there, even in light of the ongoing Green Deal discussions inside of the EU, added Widdershoven.
He pointed out that while a net-zero target has been set by Brussels, member countries are still in very different phases of energy transition.
“Looking at the latter Eastern Europe or South-East Europe still constitutes a very vast market for coal-oil to natural gas, as energy transition phase. Additionally, the ongoing issues with renewables and grid in Europe and the working power during cold weather situations or backing up renewables in grid, natural gas will be needed even more to keep system working,” the expert concluded.
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