The implementation of the main part of the Trans-Caspian interconnector project, according to preliminary estimates, will take about four months and require investments of $400 million, said Natalie Costello, director of the advisory committee of the American company Trans Caspian Resources.
The foundation for the implementation of the project will be the existing infrastructure in the Caspian Sea in Turkmenistan and Azerbaijan, she said, speaking at the Oil and Gas Forum of Turkmenistan, which opened on Tuesday in Ashgabat.
Trans Caspian Resources presented its Trans-Caspian International project last year.
Last year, Trans Caspian Resources presented its project of the Trans-Caspian Interconnector, a smaller gas pipeline (compared to the Trans-Caspian gas pipeline) from Turkmenistan to Azerbaijan.
The entire project at that time was estimated at $500-800 million, and the implementation period was 24 months.
Costello noted during the forum that the interconnector will allow the supply of Turkmen natural gas to Azerbaijan and further to the Transcaucasus region, to Turkey and other countries that will be in need of “blue fuel”.
According to her, the interconnector will ensure the supply of 10-12 billion cubic meters of natural gas per year. Speaking about the benefits of the project, Costello added that Ashgabat will receive an additional direction for the export of its resources and diversify their supplies.
“The current situation in the energy market is forcing many countries to reconsider their views on energy security,” Costello said.