This $40 Billion Pipeline Project Risks Becoming A Stranded Asset

Europe’s relationship with Russia has soured over the years due to diverging political views and crises such as Ukraine’s reorientation towards the West. Also, energy dependency has become a politically contentious issue. Natural gas demand in the EU was approximately 564 bcm in 2019 of which Russia provided 35 percent. The Southern Gas Corridor, which is almost completed after 4,5 years, is seen as an essential piece of infrastructure for diversification purposes. However, this article will argue that the costs, both political and…