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13:59, 18 April 2014 Friday
16:25, 06 December 2013 Friday

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Europe to gain if Turkmenistan joins TANAP
Europe to gain if Turkmenistan joins TANAP

TANAP will have a huge impact on Europe if Turkmenistan and Iraq also become suppliers.

World Bulletin / News Desk

The Trans-Anatolian gas pipeline (TANAP) will have a huge impact on Europe if Turkmenistan and Iraq also become suppliers, energy expert and vice director of the Italian Institute for International Political Studies Paolo Magri told AA.

When asked whether the recent deal between Iranians and the UN Security Council’s permanent members and Germany (P5+1 countries) will lead to Iran also becoming a TANAP supplier, Magri expressed it is too early to make assessments on the matter.

“Iranian oil was extremely relevant to Europe. Sanctions are preventing us from importing. If Iran comes to back to the market, it will be a big support to these corridors,” he said.

The TANAP project has been billed as a "revolution in the energy history" of Eurasia, with its goal of streamline a direct route for Caspian energy resources to European nations.

The pipeline, also dubbed 'the silk road of energy,' will help meet the energy needs of Europe, which currently imports almost 64 percent of its natural gas, This figure is due to rise to 80 percent by 2030.

The pipeline has potential to carry the Middle Eastern, Central Asian and east Mediterranean resources to European markets, Rovnag Abdullayev- chairman of the State Oil Company of Azerbaijan Republic (SOCAR) which owns an 80 percent share of TANAP- commented earlier.

Shale gas and nuclear energy will have an impact on the continent’s energy market given Europe's economic situation, Magri added, noting that Europe has shale gas resources which it has not been able to take advantage of due to environmental concerns.

Magri stated some countries could choose to return to the nuclear option to meet energy needs.



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