Abstract
The adoption of the Third Energy Package has become a new stage in the evolutionary process of the EU gas market, its liberalization and modernization. Natural gas occupies a significant place in the energy balance of most EU countries; therefore, all EU countries are interested in an efficient and uninterruptedly functioning gas transmission system. In addition to the pan-European gas corridor routes developed by the European Commission, there are a number of significant regional-level gas transportation projects that complement large gas corridors. The article considers the countries of Southeastern Europe of the Balkan Peninsula, which in the future can become one of the main corridors for the supply of natural gas to Europe. However, it depends on the results of cooperation between Russia, Turkey and European Union.
Highlights
Due to the underdeveloped gas transportation system, the gas markets of the Balkan countries and Southern Europe are poorly connected with the markets of North-Western Europe and are largely dependent on gas supplies from Russia
According to Eurostat for 2018, Russia’s share in national gas imports of countries such as: Bulgaria, Romania, Slovenia and Serbia amounted to 75-100%, Greece and Italy - 50-75%, Croatia - 0-25% (Eurostat Statistics, 2018)
The launch of which will have a direct impact on the strategy of energy supplies to southern and southeastern Europe, is the Russian-Turkish gas pipeline Turkish Stream, or TurkStream (Figure 7)
Summary
Due to the underdeveloped gas transportation system, the gas markets of the Balkan countries and Southern Europe are poorly connected with the markets of North-Western Europe and are largely dependent on gas supplies from Russia. The low density of the gas transmission network and the lack of spot trading through gas hubs contribute to higher gas prices than in countries of North-West and Central Europe. The share of Russia in gas supplies to Europe in 2018 amounted to about 40%, depending on the seasonal dynamics of demand (Figure 1). The uneven development of gas markets in different regions of Europe is a risk factor for the energy security of the European Union (EU). The lack of diversified routes for gas imports and the underdeveloped market environment creates. Additional risks for consumers, and for gas suppliers, in particular for Gazprom
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