Gas

Šefčovič’s statement from Brussels reiterated the need for continued. long-term transit of Russian gas through Ukraine to the EU that would be both reliable and commercially viable.

The length of TANAP is 1.850 kilometers with an initial capacity of 16 billion cubic meters of gas.

Russia’s next major liquified natural gas project is likely to be served by a fleet of domestically built vessels sailing under Russian flag.

The South Stream project was cancelled by Bulgaria following pressure from the European Union and the United States.

Europe has been very active in showing its support for gas transit revenue dependent Ukraine.

Condensate output is slated to reach 1 million barrels a day upon the launch of all phases of South Pars.

The terminal will be a key logistics hub for the Yamal LNG project as well as future Arctic LNG production projects.

The rising Russian share of the European gas market should not be a cause of concern for Europe.

According to statistics. a third of Germany'.s population spends more than 10% of their incomes on electricity.

Russia. Europe’s biggest gas supplier. sees higher demand for its pipeline gas. undermining the region’s efforts at diversification.