Industry debates viability of Russia-Greece natural gas pipeline deal

Greek market sources have reacted cautiously to the Russia-Greece agreement last Friday to extend the proposed Turkish Stream natural gas pipeline onwards into Greece.

Turkish Stream would carry Russian gas up to the Greek-Turkish border bypassing Ukraine. Greek energy minister Panagiotis Lafazanis and Russian peer Alexander Novak last Friday signed a memorandum of understanding (MoU) to build the South European Pipeline (SEP) via Greece. Construction is timed for 2016 and first gas expected to flow by the end of 2019, (see ESGM 19 June 2015).

Focus Group(s): Commercial
Greek Energy Forum: White Paper (GR-EN)

Κείμενο θέσεων δημοσίευσε το Greek Energy Forum, με το οποίο προτείνει στην ελληνική κυβέρνηση έξι άξονες γύρω από τους οποίους θα πρέπει να αναπτυχθεί στο εξής η ενεργειακή πολιτική της χώρας μας. Πρόκειται για την εξοικονόμηση ενέργειας, την απελευθέρωση των αγορών ηλεκτρισμού-αερίου, τους μηχανισμούς αγοράς στις ΑΠΕ, τις συνεργασίες με επιχειρήσεις-πρωταθλητές, τις έρευνες υδρογονανθράκων και την προώθηση του διασυνοριακού ενεργειακού εμπορίου.

Focus Group(s): Policy and Regulation, Engineering and Technology, Commercial, Power Markets, Trading and Shipping
Competing Gas Hub Theories And The Europeanisation Of Energy Politics

The EU’s revamped energy security strategy, combined with significant geopolitical and market developments in the Union’s south-east corner, have raised the regions significance on the EU agenda. New pipeline interconnection projects, LNG capacity extensions as well as the potential for domestic production have triggered discussions with regards to the potential establishment of a natural gas trading hub, with the European Commission notably alluding to a Mediterranean Gas Hub in its energy security strategy last year.

Focus Group(s): Policy and Regulation
East Med Gas: Let’s Focus On Demand, Let Supply Follow

The number of natural gas related developments currently progressing or being discussed in the eastern Mediterranean region, brand it as a very exciting region. Projects which include the construction of pipelines, LNG terminals, storage capacity extensions as well as exploration and production, could very well revolutionize the natural gas market in the region. This is also reflected by the number of projects seeking EU funding from the Connecting Europe Facility and the Juncker Investment Plan. To gain access to these funds, projects need to gain the approval of the European Commission, and be labelled either as Project of Common Interest (PCI) or a Project of Energy Community Interest (PECI). To this end, the European Commission will review its list of PCI’s in the Autumn of 2015. This 2nd PCI list will indicate which projects will qualify for fast track processing and funding.

Focus Group(s): Policy and Regulation
Interview of Constantinos Levoyannis on Turkish Media – Sputniknews

Yunan Enerji Forumu Başkan Yardımcısı Konstantin Levoyannis, Türk Akımı doğalgaz boru hattı projesi ile Türkiye ve Rusya arasındaki verimli enerji işbirliğinin devamlılığının sağlanacağını söyledi. Türk Akımı projesinin Moskova ve Ankara ilişkilerine getireceği katkıları Sputnik’e değerlendiren Yunan enerji uzmanı Konstantin Levoyannis’e göre, Güney Akım’ın iptal edilmesinden sonra doğalgazını Türkiye’ye sunmak Rusya’ya, iki temel konuda yarar getirecek: Öncelikle Türkiye ile enerji alanında verimli işbirliğinin devamı sağlanacak. İkinci olarak da, Rusya doğalgazını AB üyesi olmayan Türkiye’ye getirerek, AB enerji mevzuatına ve Üçüncü Enerji Paketi’ndeki şartlara tabi olmaktan kurtulacak.

Focus Group(s): Policy and Regulation
Why Energy Developments In Israel Mater To The EU

Discoveries of natural gas offshore Israel signalled the eastern Mediterranean as a new frontier for the development of natural gas resources. The gas discoveries provide a unique opportunity for Israel to change its mentality vis-à-vis neighbouring countries and view the resources as a tool for strengthening regional cooperation and solidarity through energy diplomacy. While security concerns in Israel remain paramount, diplomacy in the context of the eastern Mediterranean transcends traditional foreign and security policy considerations, and attempts to use economic and commercial means to interlink the countries of the region through energy relations.

Focus Group(s): Policy and Regulation
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