European Consortium to Announce Its Trans-Caspian Gas Pipeline Proposal

BUSINESS TURKMENISTAN
European Consortium to Announce Its Trans-Caspian Gas Pipeline Proposal
Turkmen gas is expected to reach Azerbaijan via Trans-Caspian gas pipeline, then trough Southern Gas Corridor the European markets. (Photo: Trans Adriatic Pipeline)

Turkmen-German business forum aimed at further developing the dialogue of friendship and mutually beneficial cooperation between Turkmenistan and Germany, strengthening the position of domestic industries in the foreign markets, and increasing their export, innovation and investment potential will be held in Ashgabat on Thursday.

The forum will bring together representatives of the Ministry of  Foreign Affairs of Germany, the German Society for International Cooperation, the East European Association for the Promotion of Entrepreneurship, the German Chamber of Commerce and many companies of Germany specializing in a wide variety of industries.

The agenda of the forum includes new proposals on trade and economic cooperation. During the negotiations, the sides are expected to consider issues of expanding bilateral relations.

The European consortium, which proposed the construction of the Trans-Caspian gas pipeline on the sidelines of the first Caspian Economic Forum, will also participate in the Turkmen-German forum.

The consortium led by Edison Technologies

Edison Kasapoglu, General Director of the Edison Technologies, proposed a project for supplying Turkmen gas to European countries through Azerbaijan on the sidelines of the forum held in the Avaza National Tourist Zone.

Along with Edison Technologies, the European consortium also includes MMEC Mannesmann GmbH and Air Liquide Global E&C Solutions.

During the Turkmen-German business forum in Berlin last February, Kasapoglu noted that the Trans-Caspian pipeline will create an additional source of natural gas for Europe.

According to Kasapoglu, the basis for laying the Trans-Caspian pipeline is the agreement on the status of the Caspian Sea, reached in August 2018 in Aktau, Kazakhstan.

The company would lay 300-kilometer gas pipeline along the bottom of the Caspian Sea to the shores of Azerbaijan and deliver Turkmen gas to Turkey via TANAP and further to Europe or to the borders of the European Union through a new economic route.

Consortium intends to carry out complex development of natural gas in Turkmenistan

The consortium representative says that in parallel with the construction of the gas pipeline, the consortium also intends to drill the required number of wells at the Galkynysh field, purify the gas with the facilities that will be built there, and build compressor stations for pumping commercial gas into the Trans-Caspian pipeline.

The consortium will implement the construction of the Trans-Caspian gas pipeline with its own financial resources. In this case, the return on investment will be achieved by the sale of commercial gas to Europe after the commissioning of the pipeline.

The consortium together with the Chinese company Sinopec Engineering Group also intends to carry out an investment project to build a gas-chemical complex for the production of polyvinyl acetate and methanol in Turkmenistan.

In this regard, the members of the consortium delegation arrived in Ashgabat on January 15, 2020 and made a presentation on the implementation of this gas chemical plant in the Turkmengaz State Concern. Representatives emphasized that the implementation of such large-scale project will expand the export capabilities of the Turkmengaz State Concern.

The consortium intends to implement this ambitious project with its own financial resources and achieve return on investment from the production output.