ECONOMY
European Commission-Azerbaijan talks on Trans-Caspian gas pipeline may be completed in mid of 2012, Oettinger
Baku, April 29 (AZERTAC). The talks between the European Commission and Azerbaijan on guarantees of the Trans-Caspian gas pipeline may be completed in mid of 2012, EU Commissioner for Energy Günther Oettinger said during the conference on “Energy Dialogue: Russia – European Union. Gas Aspect”.
Oettinger noted the function of the European Commission is not to give a guarantee, but to organize the work.
On September 7, 2011, EU gave a mandate to the European Commission for conduction of talks with Azerbaijan and Turkmenistan on Trans-Caspian project.
Trans Caspian Pipeline project will connect Turkmenistan and Azerbaijan`s Caspian Sea coast for transportation of natural gas to Europe through the territory of Azerbaijan. The expected annual capacity of the Tengiz (Kazakhstan) Turkmenbashi (Turkmenistan) Baku (Azerbaijan) Tbilisi (Georgia) Erzurum (Turkey) route amounts to 20-30 billion cubic meters of gas. The cost of the project is estimated at 7.9 billion euros.
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