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Turkish Stream and the EU Security of Gas Supply: What's Next?

Author

Listed:
  • Manfred Hafner

    (Fondazione Eni Enrico Mattei (FEEM))

  • Simone Tagliapietra

    (Fondazione Eni Enrico Mattei (FEEM))

Abstract

On December 1, 2014 Russian President Vladimir Putin surprised the energy world by announcing, during a state visit to Turkey, the demise of the long-planned South Stream pipeline project and the launch of a new project to evacuate Russian gas to Turkey and South-East Europe bypassing Ukraine: Turkish Stream. Since 2007 South Stream has represented a key element of the discussions concerning the EU security of gas supply and the overall EU-Russia relations. For this reason, the unexpected demise of South Stream and the quick rise of Turkish Stream need to be carefully evaluated both under the economic and geopolitical perspectives. This article will first provide an overview of the Russian gas export strategy to Europe in order to entrench the current discussion on the major long-term trends concerning the issue. On the basis of this analysis the article will then discuss the future prospects of Turkish Stream, arguing that the EU could seize this new reality to launch the formation of a fluid, reliable and interconnected South-Eastern European regional gas hub.

Suggested Citation

  • Manfred Hafner & Simone Tagliapietra, 2015. "Turkish Stream and the EU Security of Gas Supply: What's Next?," Review of Environment, Energy and Economics - Re3, Fondazione Eni Enrico Mattei, June.
    • Handle: RePEc:fem:femre3:2015.06-01
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    More about this item

    Keywords

    Turkish Stream; South Stream; Energy Security; Gas Markets; EU Energy Union;
    All these keywords.

    JEL classification:

    • Q40 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - General
    • Q42 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Alternative Energy Sources
    • Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy

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