The cancellation of South Stream makes Europe’s need for additional gas compelling. Azerbaijan, the Kurdistan region of Iraq, and Iran are positioned to be future suppliers of gas into Europe through Turkey, a route known as the Southern Corridor. Construction of the critical Trans-Anatolian Pipeline (TANAP) began in 2015 which will initially enable 10 bcm to reach Europe. However, Southern Corridor supply will face competition from Gazprom's Turkish Stream pipeline. With this now looking likely to suffer delays, Southern Corridor gas may now gain impetus. We see supply beginning to ramp up in 2018, reaching 68 bcm in 2035.