EU READY TO FUND TRANSCASPIAN PIPELINE PROJECT

02.04.2007 [18:16]
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The meeting devoted the oil and gas field development in the Caspian and Black Seas and transportation to Europe was held at the Ministry of Industry and Energy of Azerbaijan

The meeting was addressed by Minister of Industry and Energy, Natig Aliyev, representatives of respective bodies of Georgia, Kazakhstan and the European Union. The issues discussed at the event included reconstruction of the gas and electric power network between Azerbaijan and Georgia, construction of the new gas storages and compressor stations, transportation of the liquid gas by tankers from Turkmenistan to Baku, transcaspian gas pipeline project, and secure gas supplies to Europe.

Of particular focus at the meeting was Kazakhstan’s, Turkmenistan’s and even Uzbekistan’s joining the transcaspian gas pipeline project for shipping gas through the underwater pipeline via Azerbaijan and Georgia to Europe.

EU representatives said they are keen on financing the project.

Discussions between Azerbaijan and European Union on energy and transportation cooperation are going on.

EU READY TO FUND TRANSCASPIAN PIPELINE PROJECT

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