Despite Us Sanctions On Iran, Light-Green Lite For The Southern Gas Corridor

By: Ilgar Gurbanov

Corriere.it, July 26; Reuters, Oct 29); too 3) TAP volition encompass 12 per centum of domestic need inward Italy, where average gas prices are nineteen per centum to a greater extent than expensive than inward the balance of Europe (Balkaneu.com, Oct 30).

Meanwhile, the SGC’s other elements are gradually continuing to motion forward. The European Commission latterly approved measures to back upwardly the structure of the Interconnector Greece–Bulgaria, which volition distribute Azeri gas from TAP northeastward (Azernews.az, Nov 13). Thus far, Republic of Azerbaijan was able to attract a pregnant total of fiscal backing for its shares inward the SGC (see EDM, Apr 3).

TAP’s successful implementation is thank you lot to iii fundamental factors: 1) the TAP consortium demonstrated a potent decision to working constructively amongst a give away of local too regime stakeholders; 2) the Azeri government, every bit a gas supplier, likewise patiently addressed the structure challenges too actively communicated well-nigh the projection inward unopen interaction amongst Italy; too 3) TAP, from the really beginning, has been firmly supported past times the USA regardless of direction (Neweurope.eu, Nov 9; Trend, Oct 30).

The SGC has overcome a give away of challenges to date, such every bit falling crude oil prices, the necessitate for external fiscal assistance, local protests inward Italia too grass-roots campaigns against TAP, a complicated DESFA gas network bargain amongst Greece, competing pipelines, too then on (see EDM, June 16, 2016; September 22, 2016; December 16, 2016; March 9, 2017; March 28, 2017). And although the SGC’s electrical flow capacity is far smaller compared to Russia’s TurkStream, the former, dissimilar the Gazprom project, meets the EU’s finish of diversifying Europe’s gas supply.
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