Georgia and the European Commission have reached an agreement on joint financing of commercial engineering of the gas pipeline project on the Caspian sea bottom, which will connect Turkmenistan and Azerbaijan. According to the news Agency MEDIA-Turkmen ORIENT, the adviser to the Prime Minister of Georgia on the East-West energy corridor Georgi Vashakmadze told reporters.
According to the adviser to the Prime Minister of Georgia, this agreement on commercial engineering is necessary to start financing the entire project by banking institutions. “Within 11 months we hope to get data: what and how much will cost the construction of the Trans-Caspian gas pipeline,” Vashakmadze told reporters.
At the same time, the adviser to the Prime Minister of Georgia spoke on the approximate cost of the Trans-Caspian gas pipeline. According to him, the project is estimated at $1.5 billion, which is much less than the amount that experts expected 8-10 years ago. The fact is that over the years Turkmenistan has built the East-West pipeline from the gas fields in the area of the city of Mary to the coast of the Caspian sea. The Turkmen leadership said that it had invested $3 billion in this construction, which reduced the cost of the Trans-Caspian project, which previously included a pipeline through Turkmenistan.
According to the Georgian expert, banks and European companies will soon begin direct negotiations with Turkmenistan on the purchase and sale of gas. After the preparation of the documents, practical issues related to the construction of the pipeline will be put on the agenda.