“Caspian region – major geoeconomic center in Eurasia”

Turkmenistan Materials 16 August 2017 17:38 (UTC +04:00)

Ashgabat, Turkmenistan, Aug. 16

By Huseyn Hasanov – Trend:

The Caspian region, being a powerful energy, transportation and communication hub, currently is one of the most significant geopolitical and economic centers in Eurasia, the Turkmen Dovlet Habarlary state news agency writes, Aug. 16.

Intensive seacoast development, high growth of the oil and gas industry, implemented and planned regional projects for the development of the international logistics infrastructure, connecting Europe and Asia – all this necessitates the establishment of coordinated international cooperation based on legal norms, equality and mutual consideration of interests of all Caspian littoral states.

The above mentioned issues were also discussed during the recent official visit of Turkmenistan’s president to Azerbaijan, according to Turkmen Dovlet Habarlary.

The importance of the early adoption of the Convention on the Legal Status of the Caspian Sea is stated in the Declaration on Strategic Partnership between Turkmenistan and the Republic of Azerbaijan, signed following a summit meeting.

Turkmenistan and Azerbaijan, neighboring on the Caspian Sea, are both interested in using alternative routes to deliver their energy resources to Europe.

Turkmenistan is one of the key players on the energy market of the Caspian region and Central Asia.

Hydrocarbon resources of Turkmenistan can be sent in the western direction if a pipeline is constructed across the Caspian Sea to the shores of Azerbaijan, from where the hydrocarbon resources can be sent to Turkey and further to Europe.

Continuous transportation of Turkmen oil through Azerbaijan in recent years is an illustrative example of the mutually beneficial cooperation.