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Turkmenistan promotes energy partnership with West, minister says

4 June 2015 13:58 (UTC+04:00)
Turkmenistan promotes energy partnership with West, minister says

By Aynur Karimova

Turkmenistan, with its abundant natural gas reserves, has been consistently promoting the Western vector of energy partnership. The country is considering the European market as one of the most promising areas of gas supply.

This remark was made by Turkmenistan’s Petroleum and Mineral Resources Minister, Muhammetnur Khalylov at a recent gas conference in Avaza.

“The multilateral talks were held with the participation of the corresponding ministries of Turkmenistan, Azerbaijan, Turkey and the European Commission in Ashgabat in early May,” he said. “They discussed cooperation in natural gas supplies to the EU countries via the planned Trans-Caspian gas pipeline.”

He said that during the talks Turkmenistan, Azerbaijan, Turkey and the EU signed a declaration on developing energy cooperation. The document stresses on the need to boost joint work on the development of a draft framework agreement on the supply of natural gas from Turkmenistan to Europe. It was also decided to create a working group at the level of the deputies of the heads of branch ministries of Turkmenistan, Azerbaijan, Turkey and the EU.

“The document also stresses the importance of the initiative to create the Caspian Development Corporation,” Khalylov said, adding that the EU, on its part, offered to create a consortium with the participation of major European companies that will finance the gas pipeline’s construction.

He went on adding that Turkmenistan is ready to supply natural gas to all interested buyers, including European countries. EU countries, in turn, attach great importance to the development of cooperation with Turkmenistan.

“Given this mutual interest of the sides, the partnership between Turkmenistan and the EU promises to be very perspective and mutually beneficial in the near future,” the minister said. "For this purpose, the possibility of the construction of Trans-Caspian gas pipeline is being studied."

Energy-rich Turkmenistan, which ranks fourth in the world in terms of its volume of gas reserves after Russia, Iran and Qatar, and produces about 70-80 billion cubic meters of gas a year, is keen on increasing and diversifying the supply of its huge volume of natural gas to Europe.

Turkmenistan has the fourth largest gas reserves in the world, at a minimum some 17 trillion cubic meters, possibly as much as 25 or 26 trillion cubic meters. The construction of the Trans-Caspian Gas Pipeline will greatly expand the diversification of the Turkmen natural gas supply routes, as well as create an additional guarantee for the reliable and stable export of Turkmen energy resources to international markets.

The construction of the 300-kilometer Trans-Caspian Pipeline, which will enable to transport up to 30 billion cubic meters of gas to Europe via Azerbaijan, is in the interest of Europe as the EU is trying to decrease its dependence on Russian gas.

Azerbaijan is also interested in the construction of the Trans-Caspian Pipeline as it can gain huge benefits from the transportation of Turkmen gas via its territory.

“Today, Turkmenistan and Azerbaijan have every opportunity to implement it [the project] within bilateral activities,” the minister noted.

At the initial stage, the fields in the Turkmen part of the Caspian Sea can serve as a resource base for gas supply via the Trans-Caspian gas pipeline. The proven gas reserves of the fields in the Turkmen sector of the Caspian Sea today allow to supply up to 10 billion cubic meters of gas per year in this direction, said the minister.

"It will be possible to use the reserves of the gas fields in Turkmenistan’s east for gas supply via the Trans-Caspian route in the future," he added.

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Aynur Karimova is AzerNews’ staff journalist, follow her on Twitter: @Aynur_Karimova

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