Bulgaria ready to issue South Stream permits

Dependency of the UE on Russian gas

EU/Bulgaria were stalling South Stream project trying to squeeze Putin to gain some political concessions from him pretending they don't really need that gas pipe because they will try diversify gas suppliers to EU to be less depended on Russian supply, but reality is that no one can really supply that much in near future (10-15 years) but Russia and plus EU demand of gas is rising.

According to IEA Chief

The agency—which advises industrialized nations on oil and gas policies—forecast last year that the European Union's annual gas imports would rise by some 140 billion cubic meters to 450 billion cubic meters by 2035, as indigenous production continues to drop. Significant U.S. gas exports to Europe in the future are "an alternative that I think is not really very realistic because the gas is not yet there, and it will come at a price," Ms. van der Hoeven said.

The IEA has forecast the U.S. will export 50 billion cubic meters of natural gas annually in LNG form by 2035.

Norway's gas exports to Europe are expected to fade in the early 2020s. That supply could potentially be replaced by increased pipeline supply from Azerbaijan and Kurdistan, more LNG from the U.S., the Eastern Mediterranean and Africa, and possibly also shale-gas production in Europe. However, Russia is expected to retain and even strengthen its position as a major gas supplier to Europe.

"Russian gas remains competitive against other alternatives and will continue to be the cornerstone of European gas supply," consulting firm Wood Mackenzie said in a June report. "Our long-term view is that the Europe-Russia gas relationship will continue out of necessity."

"Europe and Russia will be energy partners for many decades to come. That is fundamental," he said.


The EU/Bulgaria were bluffing, Putin called it and cancel the project, now EU/Bulgaria said they will issue the permit and its up to Gazprom whether pipeline is built or not.


/r/UkrainianConflict Thread Link - rt.com