World Bulletin / News Desk
Turkmenistan has expressed its interest in exporting natural gas to Europe, and Turkey's state owned TANAP may prove to be the solution for this.
Speaking at the Petrol-Gas Summit in Istanbul, the head of the Turkish Energy Ministry's Transit Petrol Pipelines Office, Reha Muratoglu, said that he believes the pumping of Turkmen gas to Europe via TANAP pipelines across the Caspian Sea has now become likely.
Last year Turkey's Energu and Natural Resources Minister Taner Yildiz visited Turkmenistan, where he submitted a request for for an annual supply of 5-6 cubic meters of natural gas to TANAP.
TANAP will start construction work on pipelines across the Caspian to Azerbaijan in early 2015. It is hoped that Turkmen gas will reach Turkey by 2018 and then Europe in 2019.
However, Sohbet Karbuz of the Mediterranean Energy Observatory told Al Jazeera Turk that Turkmenistan is already pumping 65 million cubic meters of gas to China, adding that the US is also pushing for a pipeline between India, Pakistan, Afghanistan and Turkmenistan. This, he said, would make it difficult for Turkmenistan to pump gas to TANAP.
He also added that Turkmen gas is much cheaper than Azerbaijani gas, and for that reason Azerbaijan may not approve the pipelines as Azerbaijan would naturally prefer to sell its own gas.
At the same time, he added, Azerbaijan is expecting a drop in its natural gas productivity in the 2030s. Perhap then, he said, Azerbaijan may agree to host TANAP pipelines.
PM Mahlab said that Egypt eyes sustainable growth to improve the living conditions of Egyptians, noting that the Egyptian economy is currently recovering.
The French economist calls for redistribution of global wealth, which he says is too concentrated in the hands of the few.
Bank cites high financing costs and financing difficulties as challenges that need to be addressed to sustain growth.
Smuggling is denying Tanzania some 80 percent of receipts accrued from the precious gemstone
The Africa initiative will create "one huge free-trade union" allowing foreign investors in Egypt to more easily reach 260 million consumers from South Africa to Ethiopia.
Budapest says the collapse of the rival Western-backed Nabucco project to bring gas from Azerbaijan to Europe, and stalled plans to build inter-connector pipelines within eastern Europe, have left it with no alternative.
In Russia, the idea of a Saudi-U.S. plot against Moscow has become common currency as the economy struggles under the effects of low oil prices and Western sanctions imposed
Lithuania's new LNG terminal represents an end to Russia's gas monopoly in Lithuania, says Lithuania's president
The minister said the militants considered the eastern Syrian cities "safe for them" and thus transferred wheat and barley in Nineveh "to preserve it".
Decreasing oil prices are intended to pressurize and punish Iran and Russia: Int. Financial Markets expert says
Prices rise 30 percent as new president's deeply unpopular subsidy cut takes effect.
Japan's prime minister is to turn to the polls to see if his decision not to hike taxes can gain electoral support.
The agreement between the two countries, which trade around $3.2 billion in goods each year, will enable New Zealand to better compete with other countries in its sixth-largest export market.
G20 summit in Brisbane produced 800 commitments after two days of talks
The agreement gives Australian dairy farmers tariff-free access within four years to China's lucrative infant formula market, minus any of the "safeguard" caps that currently restrict competitors from New Zealand.
The shockingly downbeat report reinforced expectations Prime Minister Shinzo Abe will delay a sales tax hike, set for October next year, after a hike in the tax in April took a heavy toll on consumption.