Reuters reported that Turkmenistan is in talks with international companies to assist in construction of a cross-country pipeline to pump gas from the world second biggest field to the gateway of a potential new supply route to Europe.
Mr Amanali Khanalyev chairman of state gas firm Turkmengaz said a new pipeline system would enable the Central Asian state to supply 30 billion cubic metres of natural gas annually toward Europe along a route that would bypass Russia.
The proposed 800 kilometer "East-West" pipeline would take gas from the hugely prospective South Iolotan field to the shore of the Caspian Sea. There, it would join a European Union-backed undersea supply route to Azerbaijan and beyond.
According to BP data Turkmenistan a reclusive former Soviet republic of 5.4 million holds the world fourth largest natural gas reserves and is seeking to diversify supply routes to energy hungry markets in Europe and Asia.
While estimates of its gas reserves have grown substantially in recent years international energy majors are frustrated at the absence of any big deals and question whether the country alone can finance its many ambitious projects.
Mr Khanalyev told an industry conference that Turkmengaz and energy focused construction firm Turkmenneftegazstroi were already building separate sections of the "East-West" pipeline. He said that "We are also conducting negotiations with a host of international companies that have the requisite experience, technical capability and the means for raising finance to fulfill construction work on separate sections of the pipeline."
GCA said at the eastern end of the proposed route lies South Iolotan a field ranked by auditor Gaffney, Cline & Associates as second in size only to South Pars in Iran. It could hold 13.1 trillion to 21.2 trillion cubic metres.
The western terminus would be the Caspian Sea. Turkmenistan and Azerbaijan have agreed in principle with support from the European Union to lay a pipeline under the sea to connect into the proposed Southern Corridor supply network to Europe.
(Sourced from Reuters)
