Southern Gas Corridor project holds promise for EU energy security

Baku, February 12, 2015: Turkish Energy Minister Taner Yildiz (L) and Azerbaijani Energy Minister Natig Aliyev meet at a Southern Gas Corridor advisory board meeting (source: dpa)
Baku, February 12, 2015: Turkish Energy Minister Taner Yildiz (L) and Azerbaijani Energy Minister Natig Aliyev meet at a Southern Gas Corridor advisory board meeting (source: dpa)

The European Union’s Southern Gas Corridor project is entering a critical phase. This energy highway is meant to bring natural gas from the Caspian Sea and the Middle East to Europe, but its success is threatened by low gas prices and a muddled approach from governments in the region. Russia’s Turkish Stream project, if it materialises, could also thwart the initiative. However, if squabbles can be overcome and the project is completed, it will significantly diversify gas supply to Southeast Europe and enhance the region’s geopolitical importance.

The EU’s ‘energy union’ initiative, which is aimed at reducing the bloc’s dependence on Russian gas imports, is gaining ground. Two big rea...

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