The European Commission’s position is central to the current impasse. Despite recognizing the geopolitical importance of the corridor, officials are scrutinizing whether the proposed capacity products from transmission system operators across Greece, Bulgaria, Romania, Moldova, and Ukraine comply with EU market regulations. There are indications that diplomatic efforts, potentially involving the United States, may be necessary to resolve these regulatory hurdles.
The uncertainty revolves around three specific capacity products linked to the corridor. One product facilitates gas deliveries to Ukraine via the Revythoussa LNG terminal and the Alexandroupoli floating storage regasification unit. Another focuses on LNG volumes entering through Alexandroupoli and subsequently flowing into Bulgaria via the IGB interconnector. The third product connects the Trans-Adriatic Pipeline in Komotini with the IGB, which also accommodates gas supplies from Azerbaijan.
This situation highlights a contradiction within EU energy policy. While last year saw commitments for large-scale purchases of US energy slated for later this decade, ongoing regulatory hesitance is obstructing infrastructure development aimed at facilitating these imports to eastern and northern Europe.
The depth of these challenges became evident in December when newly expanded capacity products failed to attract any demand. Market participants reportedly withdrew due to late-stage regulatory uncertainties regarding whether shippers could secure capacity throughout the corridor under a unified product structure. Without clear guidelines on this matter, confidence in future auctions remains precarious, indicating a need for urgent resolution to restore market interest and operational viability.
