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Transfer of Caspian gas to European market is becoming a reality

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The transfer of Caspian gas to the European market is becoming a reality, Maros Sefcovic, European Commission Vice-President for the Energy Union said on Tuesday.

'The Caspian, Central Asian and EU areas will continue to develop mutually beneficial cooperation'Report informs referring to the Gateway Turkey, through a video recording that was relayed at the Ashgabat International Energy Charter Forum, Sefcovic congratulated the Energy Charter Secretariat and the Turkmenistan presidency of the Energy Charter for organizing the event.

“On this same occasion [in May 2015], Turkmenistan organized the quadrilateral EU, Azerbaijan, Turkey, Turkmenistan ministerial meeting that resulted in a joint signature of Ashgabat’s declaration and cooperation in the field of energy. This declaration set the foundation for the creation of a new EU, Azerbaijan, Turkey, Turkmenistan working group with the participation of Georgia also,” he said.

The Ashgabat declaration, which aims to develop energy cooperation between Turkmenistan, the Republic of Azerbaijan, the Republic of Turkey and the European Union, was signed on May 1, 2015.

A subsequent working group was formed to implement the declaration, from which regular meetings ensued to discuss the possibility of supplying Turkmen gas to Europe.

Sefcovic asserted that cooperation in the field of energy between the parties would continue in the years to come.

With natural gas playing a more significant role as the countries try to switch to a low carbon economy, Sefcovic said that the transfer of Caspian gas to the European market would become a reality.

“In the years to come, the Caspian, Central Asian and EU areas will continue to develop mutually beneficial cooperation especially in the field of energy,” he concluded.

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