TODAY.AZ / Business

Turkmenistan promotes Trans-Caspian gas pipeline project passing through Azerbaijan

27 April 2019 [10:05] - TODAY.AZ


The possibilities of supplying Turkmen natural gas to Europe - and particularly the Trans-Caspian gas pipeline project (via Azerbaijan), which has raised the interest of investors from many countries – are being considered, Trend reports referring to the Turkmen Dovlet Habarlary state agency (TDH).

This was discussed during the meeting of the Turkmenistan-UK Trade & Industry Council (TUKTIC) in Ashgabat, which was attended by Baroness Emma Nicholson, representative of the House of Lords of the UK Parliament.

The delegation included companies such as UK Export Finance, British Petroleum (BP), Petrofac, Rolls-Royce, Promethean World, United Insurance Brokers, JCB, Ed Broking, Shell, Buried Hill, Edgen Murray Europe Ltd, Ethos Energy, Weir Oil and Gas, Hermes Datacomms, and De La Rue, among others.

With its enormous hydrocarbon potential, Turkmenistan stands for the optimization of international cooperation in the fuel and energy sector, making an effective contribution to ensuring regional and global energy security, according to TDH. The processing, gas and petrochemicals industries are also experiencing a dynamic development in Turkmenistan, along with the mining segment of the fuel and energy complexes.

A modern industrial infrastructure is being formed, focused on the creation of new productions, working on the basis of advanced technologies and capable of producing high-quality products that meet world standards and that are in demand on foreign markets. There are several relevant projects under development.

"In this regard, Turkmenistan offers British investors cooperation in this promising direction," according to TDH. The Trans-Caspian gas pipeline project can be implemented within the framework of the Southern Gas Corridor project lobbied by the EU. In order to fulfill this, a 300-kilometer gas pipeline will have to be laid to the shores of Azerbaijan along the Caspian seabed, the legal status of which was approved last year, after 20 years of negotiations between the Caspian littoral states.


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