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capacity to fully substitute Russia’s<br />
gas supply, but rather in diversifying<br />
supply sources and routes. As<br />
explained by the Eurogas President,<br />
the corridor is not an alternative,<br />
but “it is important for Europe to<br />
try many different sources of gas.” 24<br />
Opening up a fourth major gas corridor<br />
is less about substitution, and<br />
more about establishing competitiveness.<br />
It is about creating a valid<br />
infrastructure that has the capacity<br />
both to deliver natural gas to Europe,<br />
circumventing Gazprom’s involvement,<br />
with the potential for future<br />
expansion, if necessary. As sources<br />
indicate, there may be more natural<br />
gas available in Azerbaijan as it plans<br />
further exploration of Shah Deniz<br />
fields. 25 Moreover, there are other,<br />
oil and gas rich countries in the region,<br />
such as Kazakhstan, Uzbekistan,<br />
most importantly Turkmenistan,<br />
that may potentially be looking<br />
THE STRATEGIC IMPORTANCE OF THE SGC<br />
LIES NOT NECESSARILY IN ITS CAPACITY TO<br />
FULLY SUBSTITUTE RUSSIA’S GAS SUPPLY,<br />
BUT RATHER IN DIVERSIFYING SUPPLY<br />
SOURCES AND ROUTES.<br />
for diversified export markets, and<br />
consequently turning West. 26 Turkmenistan<br />
holds the largest natural<br />
gas reserves in Central Asia, of approximately<br />
265 trillion cubic feet, 27<br />
and with its involvement the SGC<br />
could ultimately meet European<br />
demand in its entirety. Finally, as<br />
described in the EU’s Energy Security<br />
and Solidarity Action Plan, the<br />
Southern Corridor has the potential<br />
to incorporate natural gas from Iraq.<br />
Should the political conditions experience<br />
a shift though, even Iranian<br />
gas could be connected up. Iran, notably,<br />
has the world’s second largest<br />
gas reserves. 28<br />
63<br />
CASPIAN REPORT, FALL <strong>2014</strong><br />
24.<br />
Rianovosti, 14.05.<strong>2014</strong>, http://en.ria.ru/world/<strong>2014</strong>0514/189824573/Europe-Plans-No-<br />
Extension-to-Southern-Gas-Corridor.html<br />
25.<br />
http://www.bp.com/en/global/corporate/press/press-releases/shah-deniz-final-investmentdecision-paves-way.html<br />
26.<br />
Europe’s Energy Security: Options and Challenges to Natural Gas Diversification, CRS, August<br />
2013, P. 5, http://fas.org/sgp/crs/row/R42405.pdf<br />
27.<br />
Energy Information Administration, Country Analysis in Brief, Turkmenistan, last updated<br />
January 2012, http://www.eia.gov/countries/analysisbriefs/cabs/Turkmenistan/pdf.pdf<br />
28.<br />
EU Energy Security and Solidarity Action Plan, Second Strategic Energy Review, Commission<br />
of The European Communities, Brussels 20<strong>08</strong>, COM 20<strong>08</strong>, 781 final, P. 4, http://eur-lex.europa.<br />
eu/LexUriServ/LexUriServ.douri=COM:20<strong>08</strong>:0781:FIN:EN:PDF, http://www.eia.gov/countries/<br />
country-data.cfmfips=ir