Turkmenistan, Azerbaijan keen on strengthening energy, transport co-op
By Aynur Jafarova
Turkmenistan and Azerbaijan, two Caspian littoral countries, are interested in strengthening energy and transport cooperation.
The interest was expressed at a meeting held between Turkmen
President Gurbanguly Berdymukhamedov and Azerbaijan’s First Deputy
Prime Minister Yagub Eyyubov, Turkmen media said on November
22.
During the meeting in Ashgabat as part of the Summit of Heads of
Governments of the CIS countries, the sides discussed energy
cooperation aspects of both countries.
The sides said enjoying huge resources and economic
opportunities, the two neighboring countries intend to continue
strengthening their traditional cooperation, based on the
principles of equality and mutual benefit.
Eyyubov appreciated Turkmenistan’s constructive strategy of
establishing multiple systems of the transport corridors and energy
export to the world markets. He also expressed Azerbaijan’s great
interest in strengthening the productive business relations aimed
at promoting sustainable economic development of the Caspian Sea
region.
In this regard, it was stressed that the Caspian Sea remains a sea
of friendship and harmony of the fraternal peoples.
The geographical position of the two neighboring countries creates
favorable conditions for adopting effective measures in
implementing the projects to build the transcontinental transit
corridors, ensuring optimal profitable onshore and offshore routes
for cargo transportation and their integration into the
international transport infrastructure.
Turkmenistan is one of the key players in the energy market of the resource-rich Caspian region. The Central Asian state has the world's fourth largest natural gas reserves after Russia, Iran, and Qatar. It produces about 70-80 billion cubic meters of gas each year.
The largest deposits of the country are concentrated in the Mary region in the east of Turkmenistan.
Turkmenistan intends to increase the production volume and export of natural gas, and diversify its routes of supply to major world markets as part of an energy strategy.
Azerbaijan, which has become an independent natural gas exporter to Europe, is also interested in offering a transit route, which can bring additional revenues to the country.
SOCAR have expressed its readiness to offer a diversified system of oil and gas pipelines, infrastructure and other opportunities to Turkmenistan for the implementation of projects in the oil and gas sector.