EU stands ready to attract investment in Trans-Caspian gas pipeline

Baku. 23 October. REPORT.AZ/ The EU representatives in negotiations with the delegation of Turkmenistan in Brussels expressed their willingness to help attract investment in the construction of the Trans-Caspian gas pipeline.

Report informs referring to the government’s Russian-language newspaper Neutral Turkmenistan that the EU showed great interest in building the Trans-Caspian gas pipeline and supplying European market with Turkmen natural gas.

According to the President of Turkmenistan Gurbanguly Berdimuhamedov, thanks to the adoption of the Convention on the Legal Status of the Caspian Sea, the necessary legal basis has been created for laying a gas pipeline.

"Now, for the implementation of this top requested project, only the consent of the parties to the project and environmental assessment that meets strict international requirements are needed," Turkmen leader said.

The Trans-Caspian gas pipeline provides for the supply of Turkmen natural gas to the European market for at least 30 years.

The gas pipeline project between the Turkmen and Azerbaijan coast of the Caspian Sea is necessary for connecting Turkmenistan to the Trans-Anatolian gas pipeline (TANAP). The TANAP gas pipeline provides for the supply of gas from Azerbaijan through Georgia and Turkey to the Greek border, where its continuation to the Southern Europe will be the Trans Adriatic Pipeline (TAP).