Connection to Trans-Caspian Gas Pipeline project to enhance Azerbaijan’s image in world

Connection to Trans-Caspian Gas Pipeline project to enhance Azerbaijan’s image in world

Economy
18 November 2019, 12:25 390
All participants are very interested in the Trans-Caspian Gas Pipeline project, which provides for the transportation of Turkmen gas to Europe through Azerbaijan, despite that the project has been under discussion for many years, well-known Russian expert, economist Stanislav Pritchin told Trend.
The Russian expert noted that Turkmenistan and Europe are primarily interested in implementing the large-scale project.
"This project has high political significance; in particular, Azerbaijan’s participation in it increases the country’s importance in the region and the world,” Pritchin added. "Azerbaijan takes a very balanced position in this project, and doesn’t hide that it can act as a transit country. Thus, Azerbaijan shows that it is ready connect to the project and support it as much as possible after it is launched.”
The expert further reminded that last year the Protocol on Cross-Border Projects in the Caspian Sea was adopted, which governs the issue of implementation of such projects.
"The document was adapted and adopted by all the Caspian littoral states,” Pritchin said. "But these are technical details. As part of this project, first of all, it’s necessary to think about who will sponsor the project, since it is not cheap, and how well the economic component of Turkmen gas supplies to the European market has been worked out, especially considering that serious changes are taking place in the European gas market. Azerbaijan also feels this by joining the Trans-Anatolian Natural Gas Pipeline (TANAP) and Trans Adriatic Pipeline (TAP), the implementation of which is approaching the final stage.”
"The situation in the European market has seriously changed while Azerbaijan was building its infrastructure, first of all, because Europe receives a large amount of liquefied natural gas, and this worsens the price situation for suppliers,” the expert added. "This paves way for dumping and lowering prices, which isn’t profitable for the suppliers. Azerbaijan’s connection to this project, after it is launched, will enhance Azerbaijan’s image as a transit country in the region and the world.”
Trans-Caspian Gas Pipeline envisages transportation of Turkmen gas to Europe through Azerbaijan.
Turkmenistan is studying the possibility of bringing its energy products to the European market. To this end, a 300-kilometer gas pipeline will have to be laid along the Caspian seabed to the shores of Azerbaijan.
Turkmenistan has declared its readiness to supply Europe with an annual volume of up to 40 billion cubic meters of gas.