A shake-up of natural gas supply arrangements is gaining momentum across Eurasia. Russia, which has seen gas exports to Europe plummet since the start of the Russian-Ukraine war, is now intent on expanding supplies to Central Asia. Meanwhile, Azerbaijan is making progress on replacing Russian gas to meet the European Union’s needs. Russia’s unprovoked attack on Ukraine prompted EU states to reduce their dependency on Russian gas.
2 bcm of annual capacity, complaining that they can’t invest the huge sums required without getting upfront commitments from European gas buyers to purchase additional volumes. The amount to be supplied to Albania may be comparatively small but it marks a step towards full implementation of the TAP expansion plan. Another initiative to facilitate deliveries of Azerbaijani gas, dubbed the “Vertical Corridor,” is moving forward at a faster than expected pace.