Gas Experts Forecast That 2015 Will Be Ever More Unpredictable Geopolitically
Wednesday, 07 January 2015
2014 was a hard year with surprise events, the South Stream gas pipeline project has not yet been shut down, despite all the talking from politicians and analysts, but still it is very difficult to forecast what will happen, Prof. Nina Dyulgerova of the Chernorizets Hrabur Varna Free Universuty told a news conference hosted by BTA on Tuesday.
In Dyulgerova's words, transforming the South Stream project into a gas pipeline to Turkey is unlikely. In her view, in the coming months the European Union will look for ways to reduce the sanctions against Russia as the EU "suffers more than Russia," which has other markets for export such as China. Dyulgerova said that the falling oil prices of OPEC oil have led to serious changes in many investment projects, not only South Stream, but also to reduced investment in the development of the Shah Deniz II gas field. She drew a comparison with previous crises such as the war in Kosovo and in Iraq, and the current developments in Ukraine, saying that all such periods are characterized with stabilization or increase of the dollar.