European Commission: Trans-Caspian gas pipeline from Turkmenistan may become reality

Oil&Gas Materials 23 October 2019 19:21 (UTC +04:00)

ASHGABAT, Turkmenistan, Oct. 23

By Huseyn Hasanov – Trend:

The Trans-Caspian gas pipeline from Turkmenistan may become a reality, Trend reports referring to a statement made by representative of the European Commission's Energy Directorate-General Erlendas Grigorovic.

Grigorovic made the remark at the oil and gas forum in Ashgabat on Oct. 23.

“The signing of the Convention on the legal status of the Caspian Sea and its recent ratification by Russia is a very positive event,” he said.

"I also understand that Turkmenistan and Azerbaijan are moving forward in delimiting the bottom of the sea,” the representative of the European Commission said. “This Convention, the Southern Gas Corridor give us hope that the Trans-Caspian gas pipeline will become a reality one day."

Grigorovic stressed that Turkmenistan has everything to attract European investors, if the conditions are right.

“A competitive price, distribution of economic benefits among project participants, financial conditions and a good operating environment are required for this,” the representative of the European Commission said.

"The EU cannot build the Trans-Caspian gas pipeline itself, we can only create a favorable environment,” representative of the European Commission said, adding that the Southern Gas Corridor can be cited as an example.

“The European companies may offer technical expertise, leading standards in the field of ecology, labor protection and training of specialists,” Grigorovic said.

"We continue our work to diversify our sources of supply and routes to ensure our energy security,” the representative of the European Commission said. “In this regard, we consider Turkmenistan."

Grigorovic reminded that the EU has recently opened its representative office in Ashgabat to enhance cooperation.

Turkmenistan is exploring the possibility of supplying its energy resources to the European market, including through the implementation of the Trans-Caspian gas pipeline project within the Southern Gas Corridor being promoted by the EU.

To implement this, a 300-kilometer gas pipeline should be laid along the bottom of the Caspian Sea to the shores of Azerbaijan. The pipeline's legal status was approved after twenty years of negotiations between the Caspian Sea countries last year.

Turkmenistan voiced its readiness to provide Europe with an annual volume of up to 40 billion cubic meters of gas. Ashgabat said that the EU expressed its willingness to help attract investments in the project.

Brussels and Ashgabat are preparing a version of the legal framework agreement on the future gas supplies from Turkmenistan to Europe.