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Natural Gas in Central and South East Europe: a Unifying Market and New Challenges

Andras Giday () and Laszlo Fritsch ()
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Andras Giday: Columnist, Public Finance Quarterly
Laszlo Fritsch: CEO, MVM CEEnergy Zrt.

Public Finance Quarterly, 2022, vol. 67, issue 3, 358 - 378

Abstract: Due to the dominant role of imports in the region, natural gas is typically consumed more intensively by countries which can access larger quantities through pipelines. Although there are still large differences in the level of use, a leveling trend has been observed in the last 3 decades. In the past 10-12 years, many high-capacity natural gas pipelines and interconnectors have been built from the east to Europe, which also provide the opportunity to connect countries in the region. The rules adopted by the EU created a frame for the first step towards n unified gas market by providing access to the use of the network. Regarding the future role of natural gas, there are two main scenarios in the EU's climate and energy policy. According to one, the role of natural gas power plants and the role of the industrial customers will increase during the transition period until new, green and renewable energy sources are switched on. The other scenario, on the other hand, wants to phase out all fossil energy, including natural gas, as soon as possible. The ongoing Russian-Ukrainian war will not change these scenarios, rather it will accelerate the processes. On the one hand, the availability of natural gas will influence the further spread of its use, and on the other hand, the high price of energy carriers will encourage increased economy.

Keywords: Trade Policy; Hydrocarbon Fuels; Gas Utilities amd Pipelines; Energy and the Macroeconomy (search for similar items in EconPapers)
JEL-codes: F13 L71 L95 Q43 (search for similar items in EconPapers)
Date: 2022
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Handle: RePEc:pfq:journl:v:67:y:2022:i:3:p:358-378