FORMATION OF NEW LOGISTIC NODES OF GAS TRADE IN THE COUNTRIES OF SOUTH-EASTERN EUROPE

O. I. Malikova () and P. I. Petrov ()

International Trade and Trade Policy, 2022, vol. 8, issue 1

Abstract: The countries of South-Eastern Europe had close economic ties with Russia and were guided by the purchase of Russian natural gas. In the recent years, both geopolitically and the market events, as well as the energy security concerns, have transformed the region of South-Eastern Europe into a significant element of the energy strategy of the European Union. The emergence of new gas suppliers in this region is due to both the requirements of the European Union for the diversification of energy supply sources and the active formation of new gas corridors in Eastern Europe, in particular, the launch of a large gas terminal in Poland. The creation of a new gas infrastructure exacerbates competition between suppliers and requires market participants to develop optimal gas supply options for consumers adapted to new conditions. The article examines the features of the formation of promising gas hubs in the countries of South-Eastern Europe. The specifics of the development of the gas market in Bulgaria and Greece are shown. Attention is focused on strengthening Turkey's position as an important gas corridor. The results of the study allow us to conclude that the energy infrastructure in this region is still underdeveloped. The region does not offer an efficient market mechanism for the sale and purchase of natural gas, as well as a spot pricing mechanism. At the same time, amid heightened competition on the European gas market, South-Eastern Europe is beginning to play an increasingly significant role in maintaining Russia's position as the largest gas supplier.

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:acl:journl:y:2022:id:504

DOI: 10.21686/2410-7395-2022-1-51-65

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