Iran Could Be Important Contributor to European Gas Supply Diversification Efforts

From an EU perspective. Iran could be an important direct or indirect contributor to European natural gas supply diversification efforts. a source in the European Commission told Trend on May 23. The source noted that Iranian gas supplies to Europe could be realized via the possibility to link up Iran to the Southern Gas Corridor.
The opening of the Southern Gas Corridor would present a great opportunity for Iran to reach the EU gas market. the source said.
At the same time. Iranian gas could be delivered to Europe in the form of LNG. the source noted according. adding that Iranian LNG could raise the liquidity availability of gas in the global market which could increase availability of supplies and decrease prices.
However. the source stressed it is up to Iran to decide how to export its gas – via pipe or as LNG. According to OPEC. Iran has 33.5 trillion cubic meters of proven gas reserves – the second largest in the world after Russia.
For the moment Iran does not have the facilities to liquefy gas. but the country is negotiating such projects with foreign companies.
The Southern Gas Corridor is one of the priority energy projects for the EU. It is designed to transport gas from the Caspian region to the European countries through Georgia and Turkey.
The gas to be produced as part of Azerbaijan’s Shah Deniz Stage 2 is considered as the main source for the Southern Gas Corridor.
As part of the Shah Deniz Stage 2. the gas will be exported to Turkey and European markets by expanding the South Caucasus Pipeline and constructing Trans Anatolian Natural Gas Pipeline and Trans Adriatic Pipeline. Other sources can also connect to this project at a later stage.

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