With the decision by Bulgaria to suspend construction of the South Stream natural gas pipeline, there is more pressure on Serbia, which is balancing its longstanding ties with Russia against its desire to join the European Union.”The Serbian situation is the most difficult because it ‘paid ‘ the entrance to the pipeline by giving to Gazprom low prices for NIS (Naftna Industrija Serbia – Oil Company of Serbia) and Banatski Dvor (and underground gas storage in Vojvodina),” Jelena Milic, director of the Centre for Euro-Atlantic Studies for Belgrade, told SETimes.
“It is not regulated by the energy agreement with Russia what will happen if Russia gives up the project or if it will not be able to realise its obligations. Serbia counts on incomes of transit and to pay back its debts to Russia,” Milic said. Continue reading
In a long-awaited decision to bring Azeri gas resources to Europe, the Shah Deniz II consortium opted for a pipeline running through Greece and Albania instead of a rival northwestern route, Nabucco West, running from Bulgaria to Austria.
The Trans Adriatic Pipeline (TAP) will stretch 870 kilometres from the Greek-Turkish border. Moving west, TAP is designed to extend across the breadth of northern Greece before veering northwest to Albania. From Fier, Albania, plans envision the pipeline crossing under the Adriatic to emerge in southern Italy. Continue reading