In October, a call for bids was announced for the projected HU-SK-AT pipeline which would reach the Austrian gas hub of Baumgarten (in tune with Gazprom’s pledge to do so). The total amount of volumes booked surpassed the 4.3 BCm per year threshold, the project passed all economic tests – confirmations of the booked capacities are expected to be granted in March 2019. If it is indeed Gazprom that is behind the capacity bookings, the Russian company has booked transportation capacities in Hungary, Slovakia and Austria for 7 years starting from 2022. The Bulgarian gas transportation company Bulgartransgas will, too, hold a transportation Open Season bidding this December, for transiting gas from Turkey to Serbia – the volumes will be allocated for a 20-year period. Related: Is This The Beginning Of The Next Bull Run In Oil?
Any EU bank that finances a Russian pipeline will be taken out.
On Nov. 24th, Kommersant stated that Gazprom had selected the route through Bulgaria, Serbia, Hungary and Slovakia to the Baumgarten hub in Austria for bringing Turkish Stream natural gas to Europe.
The earlier South Stream route through Bulgaria had been cancelled due to US pressure in 2014 because it did not meet the EU's Third Energy Package stipulation that companies engaged in gas production cannot be owners of the main pipelines located in the region. The annouced connection to Turkish Stream meets that requirement and therefore like NordStream 2, EU regulations.
All the countries along the route are excited to be participants due to the increased energy security to the area and the transit revenues. The Greek/Italy route at this point is mostly irrelevant.
This route is considered the best option as it addresses the technological issue of the need for large underground storage and closes the so-called European gas ring.
""This is a logical step, given that Austria is the place where the northern and southern corridors of Russian gas transportation merge, and where 'reverse' in all directions of a single 'gas ring' is possible in difficult political and/or technological situations," Lekukh pointed out.
On Dec. 3rd, Gazprom stated they expected to deliver 200 bcm/yr to Europe in 2019 and have requests for another 50 bcm/yr from traditional and new European customers. Apparently, the US with it's Russophobia has a hard time accepting that Europe wants Russian natural gas who will continue to be a significant supplier.