Turkmenistan Seeks Investors For EU Gas Link

Turkmenistan needs heavy investment to transport gas to Europe, it has emerged.

Chairman of state gas firm Turkmengaz, Amanali Khanalyev said today that the company was in negotiations with a number of companies to build a new gas pipeline, which would enable gas supply from the country to Europe.

"We are conducting negotiations with a host of international companies that have the requisite experience, technical capability and the means for raising finance to fulfil construction work on separate sections of the pipeline," Mr. Khanalyev told a conference in Turkmenistan today.

Yesterday, Douglas Uchikura, President of Chevron Nebitgaz B.V, told the industry conference that the investment would be necessary if Turkmenistan was to achieve its plan to treble its natural gas output by 2030.

"This is a relatively steep growth profile by anyone’s standards," Reuters reports him as saying.

"Yet the approach you’re taking is to try to do it yourself, without any long-term partnerships with experienced international oil companies."

On Tuesday, Turkmen Vice-Premier Baymurad Hojamuhamedov said that the country was sitting on energy reserves of up to 71.21 billion tonnes, with approximately 25.213 trillion cubic metres of proven natural gas.