President: Trans-Caspian pipeline system is important project for Turkmenistan (UPDATE)

President: Trans-Caspian pipeline system is important project for Turkmenistan (UPDATE)

Turkmenistan, Ashgabat, Nov. 3 / Trend H. Hasanov /

The details were added (the first version was posted at 1:53 p.m.)

The Trans-Caspian pipeline system is an important project.

It testifies to Turkmenistan's readiness to the mutually beneficial cooperation with all concerned parties, Turkmen President Gurbanguly Berdimuhamedov said.

The appeal was addressed to members of the conference "Global integration of energy markets - ensuring energy security" organized by Turkmen side.

Representatives of the OSCE countries were invited to the conference.

"Turkmenistan's and Europe's mutually beneficial interest in energy sphere is the natural process in economic and trade aspects," the message said.

We plan to direct our pipelines to new, more competitive markets given huge reserves
of natural gas proved by Turkmen and international experts and taking into account the need for extensive use in the future, the message said.

The Turkmen leader pays attention that Memorandum of Understanding and Cooperation in Energy has been already concluded between Turkmenistan and the EU.

The European Commission's office began its work in Ashgabat. It is a clear evidence of strengthening the relations between Turkmenistan and the European countries.

President Berdimuhamedov stressed that regular and multilateral consultations in the field of energy cooperation are required.

"The political stability in Eurasian countries must be ensured in the interest of equal and mutually beneficial cooperation," the Turkmen President said. "The favorable conditions must be created for the harmonious development of their economies."

He said that one of the major determining features of general modern energy policy is its diversification.

"As one of the types of international business, transportation of energy resources has constantly growing demand," the message said.

This increases the demand of the world economy for energy raw materials, especially oil and gas resources.

The global industry will require them in the future.

"It is reasonable for the world powerful energy powers, including Turkmenistan, to increase export potential, to create multi-vector, modern, effective systems for energy transit and delivery to consumers," the message said.

The energy security is a major component of Turkmenistan's foreign economic strategy.

At present, the country actively develops its pipeline systems. Besides the existing
gas pipelines "Turkmenistan-Russia", "Turkmenistan-Iran", "Turkmenistan-China", the gas pipeline project "Turkmenistan-Afghanistan-Pakistan-India" is being discussed as a result of energy system diversification.

"The work on Turkmen natural gas delivery to Europe has become one of the main objectives of Turkmenistan's energy policy," the president said.

Previously, experts said that British GCA has recently announced about stocks worth 26 trillion cubic meters of gas at Turkmen fields Yoloten and Yashlar. This increases the chances of the Trans-Caspian project implementation.

Brussels regularly raised the issue of Nabucco's filling. The matter rested in a possibility to vary sources of raw materials. Besides Azerbaijan and Turkmenistan, Egypt, Iraq and Iran were often considered as raw material sources.

Turkmenistan with its reserves can claim to be one of key suppliers. Ashgabat's efforts in this direction are visible.

The construction of a 1,000 kilometer gas pipeline "East-West" worth $ 2 billion was launched.

It aims to link resources of the eastern region of the country - Yoloten and neighboring fields to the Caspian coast to a single transport network. By laying a 300-kilometer pipeline through the seabed via Azerbaijan and Turkey, one can enter the European market.

Moreover, $ 10 billion were invested in Yoloten field development. The country's leadership has also expressed its readiness for the environmental assessment by attracting international experts. As it is known, Russia and Iran stood against the Trans-Caspian gas pipeline raises the question of environmental safety of the pipeline.

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