Brussels Prioritises Southern Gas Corridor, Offers Conditional Support to Sofia’s Plan
The European Commission launched activities to adopt its Energy Union on 25 February, with Commissioner for Climate Action and Energy Miguel Arias Cañete promising concrete measures in the final document. Meanwhile, Vice-President Maroš Šefčovič reiterated his focus on South-East Europe, confirming his theoretical support for Sofia’s plans to become a gas hub.
VICE-PRESIDENT FOR THE ENERGY UNION: TURKISH STREAM NOT COMMERCIALLY VIABLE, EU TO INCREASE PREDICTABILITY
On Wednesday, the Vice-President for the Energy Union, Maroš Šefčovič tried to reassure South-Eastern European countries about his commitment to take into consideration their interests.
During his press conference in Brussels, the Vice-President stated that the Turkish Stream is not commercially viable, sending a clear message to Bulgaria’s authorities.
Suggesting that the project might be in breach of legally binding agreements signed by Moscow and European companies, he said he doubts that the final point of the Turkish Stream would be on the border between Turkey and Greece,
“This will not work. I cannot see that this would be the final solution” Šefčovič, said, adding that European authorities will try to promote a more rational dialogue between Member States and Gazprom.
Paying careful attention to South-East Europe, Brussels wants to prove that it is not forgetting Member Countries. Some financial support for interconnections is likely to be announced soon.
“This part of Europe is not yet adequately integrated into the European energy system. There is still a big need for major infrastructural projects” Šefčovič said, reiterating his support for an eventual gas hub in Bulgaria, under the condition that the project would follow all the requirements to allow a transparent, commercially viable process accepted also by neighbouring countries.
Speaking about the region, Šefčovič also said that the Commission will take part in a ministerial meeting in Sofia on February 9.
According to Euractiv, Energy ministers from Austria, Bulgaria, Croatia, Greece, Hungary, Slovenia and Slovakia will attend the conference. In a previous meetings on December 9, also delegations from Italy and Romania joined the discussion about interconnection opportunities in the region.
During the conference, Šefčovič also said that Brussels will increase predictability in the energy markets.
“We will work to ensure a coherent approach to energy across different policy areas, to create more predictability” Šefčovič said.
CAÑETE: SOUTHERN GAS CORRIDOR REMAINS TOP PRIORITY
Similarly, Cañete stressed the importance of concentrated efforts to increase security of supply. He said that the Southern Gas Corridor will be a priority for the Commission.
“The recent South Stream saga can be both a lesson and an opportunity. From now on, we will focus on projects that expand our diversity of supply. The Southern Corridor project will be a top priority,” Cañete commented in Washington, as reported by a note released on Wednesday.
The Commissioner added that there will be a strong focus on research and innovation, also mentioning CCS technologies.
During his speech in the United States, Cañete also made a stark remark on Russia, commenting that the current crisis in Ukraine is the ultimate wake up call for European countries.
“When it comes to energy, don't put your fate in the hand of autocratic regimes” he argued.
Sergio Matalucci
Sergio Matalucci is an Associate Partner at Natural Gas Europe. Follow him on Twitter: @SergioMatalucci