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11.08.2016 16:51
The Black Sea region had an extraordinary evolution: not only that its potential was well confirmed by discoveries in the Black Sea but now the region is also a corridor which can help the European countries reach their energy security objectives.
Mr Cirpian Alic, Director of European Funds at Transgaz, recently stated in an industry survey published by GBC that the “the geostrategic position of the Black Sea, which extends from South Eastern Europe, Caucasus and the Middle East, down to the Mediterranean and North Africa, is a bridge between three continents. This has important implications for European security in terms of the newly evolving strategic situation in the Black Sea. Therefore, the potential gas resources in the Black Sea could influence the region’s gas supply dynamics and corporate landscape, which could lead to increased competition in Eastern European gas markets”.
Comparing the opportunities on oil and gas from the Black Sea region with other strategic seas (such as North Sea or Mediterranean Sea), the offshore projects are still in early stage of exploration with very promising initial results.
The gas operators of the national transmission systems are developing the plans for the construction of the necessary infrastructure which will allow the companies to go from exploration phase to production.
You can read the full industry survey here: www.globuc.com/blackseaoilgas/industry-survey
GBC is the organiser of the Black Sea Oil and Gas Conference, which will take place on 20 – 21 October in Sofia, Bulgaria, dedicated to the upstream and midstream supply chain representatives.
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