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Turkmenistan, EBRD exchange views on Trans-Caspian gas pipeline project

31 January 2019 15:39 (UTC+04:00)
Turkmenistan, EBRD exchange views on Trans-Caspian gas pipeline project

By Trend

The Foreign Ministry of Turkmenistan held a meeting with the Managing Director of Central Asia at the European Bank for Reconstruction and Development (EBRD) Bruno Balvanera, Trend reports referring to the ministry.

The sides exchanged views on the next steps in the implementation of the Turkmenistan-Afghanistan-Pakistan-India project (TAPI) and the Trans-Caspian gas pipeline, the ministry said.

Moreover, the development issues of coastal states' regional interaction after the signing of the Convention on the Legal Status of the Caspian Sea were emphasized.

The sides also noted the active development of cooperation with the EBRD in Turkmenistan's banking and private sectors. The meeting also addressed issues related to the EBRD strategy for Turkmenistan for 2019-2024.

Turkmenistan is studying the possibility of bringing its energy products to the European market. The Trans-Caspian project can be implemented as part of the EU-lobbied Southern Gas Corridor project. Transanatolian (TANAP - in which Turkey and Azerbaijan are involved) or AGRI (Azerbaijan-Georgia-Romania Interconnector) can be useful in this direction.

To this end, a 300-kilometer gas pipeline will have to be laid along the Caspian seabed to the shores of Azerbaijan. The legal status of the Caspian seabed was approved in 2018 after twenty years of negotiations between the Caspian countries.

Turkmenistan has declared its readiness to supply Europe with an annual volume of up to 40 billion cubic meters of gas. Official Ashgabat recently announced that the EU has expressed willingness to help attract investment in the implementation of this project.

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