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Southern Europe is looking for alternatives to Russian gas

Belogoryev Alexey M. Research and Development Director, Director of the Center for Energy strategic analysis and forecasting

The Monocle magazine (No. 24, June 11-16, 2024) published an interview with Alexey Belogoryev, Research and Development Director of the Institute for Energy and Finance, dedicated to the gas transportation infrastructure development in Southeastern Europe.

– What is the Vertical Corridor gas transportation project in Southeastern Europe? What is his route?

– This initiative does not have a specific route. In essence, it is a conglomerate of various projects aimed at improving the connectivity of the national gas transportation systems of the South-Eastern Europe countries so that gas from Azerbaijan and Greece is supplied to the Balkans and to the center of Europe, including Hungary, Austria and Slovakia. Now all countries in the region are eyeing this corridor, taking into account the prospects of stopping the Russian gas transit to Europe through Ukraine after the expiration of our contract with Ukraine in 2024. But the alternative gas transportation infrastructure to Ukraine within the framework of the Vertical Gas Corridor will not yet be fully ready for operation in 2025. The actual deadline for its completion is no earlier than 2027.

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