European vector of Turkmenistan

By: Vusala Abbasova

Turkmenistan with its huge gas reserves can help Europe in its aspirations to diversify energy supplies in case the sides reach an agreement.

The European vector is on the agenda of Turkmenistan, which is keen to create multilateral pipeline infrastructure.

Turkmenistan President Gurbanguly Berdimuhamedov stressed the importance of transnational pipeline system to supply Turkmen gas to Europe during his Europe tour.

He recalled a quadripartite meeting of the energy ministers of Turkmenistan, Azerbaijan, Turkey and representatives of the European Union in Ashgabat. The meeting outlined the priorities of Turkmen natural gas transportation to Europe through multi-sector pipelines.

Turkmenistan has sufficient energy reserves in its section in the Caspian and can meet European demand to a definite volume. Turkmenistan is ready to supply 30 billion cubic meters of gas to Europe via the Trans-Caspian pipeline should all outstanding issues be resolved. It is necessary to determine the pipeline’s operator and sort out the financing of such a project.

The president said Turkmenistan has the necessary gas capacities to become a gas power.

The British Company Gaffney, Cline and Associates which conducted an audit revealed that Turkmenistan had tremendous reserves – it was estimated that one of the Galkynish fields hold about 26.2 trillion cubic meters – proof of Turkmenistan’s incredible potential, said Berdimuhamedov.

The president drew the international community’s attention toward the matter of energy security, stressing that all will depend on the producer, transit operator and consumer needs.

Before, Berdimuhamedov mulled energy security in a meeting with OSCE Secretary General, Lamberto Zannier.

Zannier noted that many European countries consider Turkmenistan as one of the main suppliers of natural gas and are ready for a concrete discussion of topical issues for further cooperation in this strategic area.

The president expressed confidence that the adoption of a resolution initiated by Turkmenistan on the role of transport and transit corridors in providing international cooperation by the UN General Assembly will attract international attention to this urgent issue and give impetus to further constructive dialogue on interstate and international levels.

Turkmenistan possesses the fourth largest natural gas reserves in the world, which makes it one of the key players in the energy markets in the Caspian region and the Central Asia. Turkmenistan is interested in finding new markets particularly in Europe, against the backdrop of recent events related to the Ukrainian crisis.

The EU is also interested in such an energy alliance with Central Asian countries, not only in an effort to reduce its dependence on Russia but also in order to create a single energy market, to enhance energy security and reduce prices.

SOURCE: Azer News