BriefingEurope

Gas-Market Downturn Hits ‘Southern Corridor’ Pipeline Race

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Many observers expected late-2010 to be the moment of truth for what the European Union calls its “Southern Corridor”: a gas-transit route to Southern and Southeastern Europe regarded as a political priority by the EU and some Central and Eastern European countries, eager to reduce their dependence on Russian gas in their energy-supply mix. Since at least 2007, there has been fierce competition between two rival pipeline projects seeking to transport gas supplies from the Caspian basin and grab market shares in these profitable downstream outlets: Nabucco, backed by the EU and the United States; and South Stream, a joint […]

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