Opportunities for Turkmen gas supplies to Europe were discussed in Ashgabat

Representatives of the European Commission and the World Bank met in Ashgabat with an adviser to the President of Turkmenistan on oil and gas issues, heads of the Ministry of Finance and Economy, banking institutions, as well as the Turkmengaz SC.

The meeting agenda included a discussion of options for possible future Turkmen gas supplies to Europe, as well as the implementation of actions and activities under the joint Trust Fund along with ensuring energy security in the region.

– Despite the changes that are expected within the European Commission, gas will remain one of the main components of the European energy market. In this context, of course, there is a place for Turkmen gas too, representative of the European Commission Energy Commission Erlandas Grigorovich said. Previously, he spoke at the OGT-2019 (https://orient.tm/es-priglashaet-krupnyj-biznes-k-stroitelstvu-transkaspijskogo-gazoprovoda/).

Reaffirming the European Union’s commitment to the Trans-Caspian gas pipeline project, the Directorate representatives expressed a will to continue work in this area, as well as update the project status using resources of the Trust Fund.

– Much has changed since the opening of the Trust Fund in 2009, many other ways and options for gas supply have appeared, and the general views on the market and energy prices have changed.

The EU seeks to completely decarbonize its economy by 2050, and despite the expectation of a significant reduction in the use of natural gas, climate-neutral scenarios cannot do without it. This vision is based on the role of natural gas as a transition fuel in the coming decades. Therefore, experts emphasize that that gas imports will remain a key factor.

– We are coming to the point that we are starting to consider markets at the global, not regional, level, Erlendas Grigorovich said.

In view of these intentions, the parties agreed to develop a roadmap for actions.