Implementation of TANAP project could reduce share of Russian gas in EU to 25-28%

Implementation of the trans Anadolu gas pipeline (TANAP) and increase in the spot deliveries of liquefied natural gas (LNG) could reduce share of the Russian market in the EU to 25-28%, Hossein Adelie, General Secretary of the Forum of Countries-Gas Exporters, said in his interview to Izvestiya newspaper.

“Right now one  third of gas consumed in EU comes from Russia and as soon as TANAP is launched and the LNG spot deliveries increase, the share will go down to 25-28%, but no more than that,” the newspaper quotes Adelie.

General Secretary believes that gas supplies from Azerbaijan to Europe will begin no earlier than 2022-2025, but Iranian – later. “They could replace only several percent of the current consumption of Europe. Not only GECF, but also the EU understands that. We believe that Russia will continue occupying dominating position at the EU market,” he said.

Iran would like to stake on liquefied natural gas, because it is better for it to export gas to Asia through the Arabian Sea. The Iranian gas pipeline through Turkey is a long-term project and there are no preconditions for it yet, Adelie added.

TANAP project envisages construction of a system of gas pipelines from the Azerbaijani Shah Deniz field to the south of Italy through Georgia, Turkey, Greece and Albania. 6 billion cub.m. of gas is planned to be exported via them to Turkey and 10 billion cub.m. of gas to Europe. In the future the gas pipeline capacity could be increased up to 31 billion cub.m. Construction of the gas pipeline started in March 2015.—0—