The Overview Of The Main Gas Pipelines In The Black Sea Region: Political And Economic Aspects

Topicality. The Black Sea region is very dynamic in terms of economic development, security problems and interstate relations. All of the countries in this region are heterogeneous but energy issue plays a pivotal role in their foreign policy priorities. It is the only one common denominator that can both foster cooperation and catalyze conflict in the Black Sea basin. The problem of transporting energy has an impact not only on the Black Sea countries, but also on the Southeastern Europe, Russia, the Caspian Sea, Middle East, and ultimately the European consuming markets. Thus, the issue of energy transition needs the experts’ and scientists’ attention fixed on the Black Sea region in order to come together facing the latter-day challenges. The energy challenge has a multi-dimensional nature. Aim. Thus, this paper aims to provide an overview of the energy transaction issues focusing on the economic effects of the most important gas pipelines within the Black Sea region. Particular attention is going to be paid to the problem of the energy routes’ diversification and pipelines which connect the carbon-rich countries of the Middle East and Caspian region and Europe. Also, it is aimed to give a comprehensive analysis of the energy challenge within the Black sea region, focusing on energy efficiency of the gas pipelines which go through this extremely important energy hub. Methods - scientific methods of data analysis, historical and statistical overview, predictive analysis qualitative indicators, comparative method, method of description, case study. Results. The creation of a stable markets, interconnected and transparent natural gas supply would largely counteract the risks. The flexibility transport infrastructure, numerous and capable pipelines, underground storage capacities and their management may play an important role in the sector’s ability to manage supply shocks.