The European Union’s Strategic Gas Supply Options and the Prevalence of the Southern Corridor

Abstract:

In years to come, the European Union (EU) will significantly increase its gas consumption. Current estimates predict the EU will need to import up to 80% of the gas it will consume in 2030.Already there is a strong concern about its reliance on Russian gas, especially in Eastern European countries. This article gives a novel insight on the different options the EU has to reduce its dependency on Russia while ensuring energy supply. We evaluate different alternatives including exploring shale gas, increasing imports of Liquefied Natural Gas (LNG) and diversifying suppliers. Our aim is to explain why despite the various options, EU main priority seems to be investing in the Southern Gas Corridor. In this scenario, Turkey maintains its geostrategic importance to the EU due to its ability to serve as a hub country while maintaining strong relationships with supplying regions.

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