Page 8 - EurOil Week 42 2022
P. 8
EurOil COMMENTARY EurOil
available for Europe. How much extra gas Europe will be inter-
Turkey already serves as a key hub of gas ested in receiving from Russia will depend on
flow into Europe. In addition to TurkStream, EU resolve. Some countries heavily dependent
it also hosts part of the Southern Gas Corridor on Russian gas and with closer political ties with
(SGC) that funnels gas to Southeast Europe Moscow will likely push for a later deadline for
from Azerbaijan. It also has several LNG ending Russian gas imports, and will push for
import terminals. continuing those imports indefinitely. Other
Turkey would have little need for extra Rus- non-EU countries such as Serbia will continue
sian gas itself. The country is awaiting the launch receiving supplies from Russia, and expanded
of the offshore Sakarya gas field in the Black Sea transit capacity via Turkey would enable Mos-
in early 2023, which will produce 3.7 bcm per cow to cut deliveries through Ukraine. There
year of gas under its first phase of development, may also be new markets for Russian gas such
and around 15 bcm per year by 2026. It is more as Albania, which currently consumes hardly
likely, then, that Turkey may end up negotiating any gas but is eager to expand its role in order
with Russia to deliver some of the gas it currently to reduce its reliance on hydropower plants
buys from Gazprom to Europe instead. (HPPs).
P8 www. NEWSBASE .com Week 42 20•October•2022
