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NATURAL GAS GEOPOLITICS 26/02/2008 |
(2008-02-26) |
Last updated: 2008-02-27 16:06 EET |
An energy cooperation accord was signed by Serbia and Russia in Belgrade, Monday regarding the construction of the approximately 400-km long Serbian segment of the South Stream gas pipeline which is planned to take Siberian gas to Southern Europe. The project, worth over 10 billion Euros, will be developed by Russia's energy giant Gazprom and Italy's ENI group. But the accord will not turn Belgrade into a regional economic leader, believes analyst Armand Gosu.
“In Russia’s view, Serbia is a very important pawn in the configuration of energy policies in South-Eastern Europe. If we look at the big picture however, at Central and Eastern Europe as a whole, we see that Serbia is not that important. We should not overlook that the key transport routes from Russia towards the West will not cross the Balkans, but will continue to transit Belarus and, more importantly, Ukraine; that in South-Eastern Europe, the maximum capacity of the South Stream pipeline – 30 billion cubic metres a year – can be easily doubled by the Nabucco; that the routes to the main Russian gas users are not to be found in this part of Europe – they are still in Ukraine. With South Stream operational, Serbia’s 'leverage is boosted, but the country will not turn overnight into a key regional player in terms of electricity distribution.”
Another accord is due to be signed Thursday by Russia and Hungary, on the construction of the Hungarian segment of the South Stream pipeline. But Budapest will not give up the Nabucco project either – designed by the European Union as a means to reduce its dependence on Russian gas imports. The 3,300-km long pipeline, with a maximum capacity of 31 billion cubic metres a year, is to cross Turkey, Bulgaria, Romania, Hungary and Austria, with the gas coming from the Middle East and the Caspian Sea region. But while Nabucco is hardly past the discussion stage, for the South Stream project Russia has already signed three deals – with Bulgaria, Serbia and Hungary – and the framework agreement between Gazprom and the Italian energy holding ENI on the 900-km long segment under the Black Sea is also a fact.
(Daniela Stefanescu)
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