EU ready to invest in Trans-Caspian gas pipeline
The EU is willing to fund a good part of the prospective Trans-Caspian gas pipeline (TCP), Platts reported with the reference to the EU Special Representative for Central Asia Pierre Morel.
Morel said at the CIS Oil and Gas Summit in Paris on Monday that the EU funding for this project would come only with the most extensive environmental safeguards.
He also stressed that while the EU takes no position on the legal status of the Caspian Sea, the TCP would lie in the undisputed territorial waters of Turkmenistan and Azerbaijan. Moreover, a precedent for such projects has already been set by agreements between Russia and Kazakhstan for offshore platforms in the northern Caspian.
According to Morel, the mandate agreed by EU ministers to negotiate on the Southern Gas Corridor last September was a turning point for the EU, being the first time in 50 years that such a mandate has been agreed.
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