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Trans-Caspian gas pipeline prospects becoming clearer

Oil&Gas Materials 2 March 2015 22:00 (UTC +04:00)
The prospects of the Trans-Caspian pipeline project, providing for the delivery of Turkmenistan’s gas to European markets, are becoming increasingly clear.
Trans-Caspian gas pipeline prospects becoming clearer

Baku, Azerbaijan, March 2

By Aygun Badalova - Trend:

The prospects of the Trans-Caspian pipeline project, providing for the delivery of Turkmenistan's gas to European markets, are becoming increasingly clear.

At least, there is now no need to doubt the interests of all players of the project in its implementation.

This, in particular, is true for the EU and Turkmenistan.

Last week, the EU made a clear statement about its intention to ensure the Turkmen gas supplies to European markets, and to provide a legal basis in the near future for the realization of these deliveries.

Today, Turkmenistan's Oil and Mineral Resources Ministry issued a message saying that the country, taking into account the substantial natural gas reserves and the possibility of developing the export pipeline infrastructure, will be fully able to provide European market with necessary gas volumes.

The country, in particular, wants to provide the European market with supplies of 10 to 30 billion cubic meters of gas per year.

However, the timeframes for realization of these plans hasn't been mentioned.

At the same time, Turkmenistan expresses enough optimism about the prospects for the implementation of the Trans-Caspian pipeline. Today, Turkmenistan and Azerbaijan have every opportunity to implement this project within the bilateral activities, according to the Turkmen side.

Currently, the main export directions for the supply of Turkmen gas are Russia, Iran and China. Most recently, Russia expressed intention to reduce the import of Central Asian, in particular, the Turkmen fuel in 2015. Naturally, at the end of the day, the volumes of Turkmen gas, rejected by Russia, will not be left without a market, since China is always open for additional supplies.

Nevertheless, Turkmenistan is well aware of the advantages of diversifying the export routes. If there is such an opportunity, why not take advantage of it? All the more so, we are talking about the European market which is attractive enough in terms of the long-term gas supplies.

The demand for gas and dependence on the fuel import will grow in EU countries. These countries have a fairly well-developed infrastructure, and on the horizon is the creation of European energy union, which will open up markets for new gas suppliers even more.

The largest field in the south-east of the country with estimated reserves of 26.2 trillion cubic meters can become a resource base for Turkmen gas supplies via the Trans-Caspian pipeline. Exploration, which continues on this super-giant field, confirms further growth of its reserves, according to the statements of the Turkmen side.

Intensification of efforts by the EU to ensure the supply of Turkmen fuel, as well as the strong position of Turkmenistan on this issue can become a good impetus and mark a new stage in the implementation of the Trans-Caspian pipeline project, which had to acquire concrete shape long ago.

Edited by SI

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Aygun Badalova is Trend Agency's staff journalist, follow her on Twitter: @AygunBadalova

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