Germany will finance the organization of gas supplies to Europe from the Caspian region

Germany will finance the organization of gas supplies to Europe from the Caspian region

Germany intends to present a credit guarantee for large-scale monetary borrowing for an Azerbaijani state enterprise operating in the field of organizing gas supplies from the Caspian region to the European energy market. As the German media say, the price of the issue is one and a half million dollars.

German journalists refer to the message of the parliamentary state secretary at the German Ministry of Finance Jens Span and to the head of the budget committee of the Bundestag Peter Behringer. The letter notes that these natural gas supplies will play an important role in energy security for Europe and the FRG.

The European Union has long been building plans to diversify natural gas supplies to European consumers. And the best option, according to experts, is the blue fuel from the Caspian region.

It is obvious that the first gas to come to the European market will come from Azerbaijan, which is currently building the Trans-Anatolian pipeline. However, according to the unanimous opinion of analysts of the world gas market, Azerbaijani gas reserves are not enough to not only fill the pipe, but to generally speak of a serious diversification of Europe’s gas supply. Therefore, the German side, giving credit to Azerbaijan, counts on the rapid connection of Turkmenistan’s gas fields to this project. After all, Turkmenistan, in terms of natural gas reserves, is in the top four countries of the world, together with Russia, Iran and Qatar.

It is expected that the issue of construction of the Trans-Caspian gas pipeline, which should connect Turkmenistan and Azerbaijan along the seabed, will be decided at the 5th summit of the presidents of the Caspian littoral countries in Astana, where the convention on the legal status of the Caspian will be signed. The summit is scheduled to be held this year.