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.
Vessels were delivered to port of Alexandria on June 17
The economic cost of violence according to the 2015 Global Peace Index has reached a staggering $14.3 trillion with Syria the least peaceful country.
The leading opposition lawmaker has said that Turkish President Erdogan is open to all possiblities for a coalition.
Qatar has filed a lawsuit against the leader of the National Front in France for his comments regarding "terror" activities.
Saudi Arabia will put in place an electronic bracelet system for all pilgrims visiting the country to perform their Hajj duties.
After U.S. Federal Reserve Chair Janet Yellen indicated that the central bank was poised to raise interest rates, European stock markets fall.
Italian company Enel will invest 18 billion euro for renewable energy sources in Africa.
Azerbaijani president said in a statement that Southern Gas Corridor project will supply neighboring and European countries for a 100 years
Oil prices rose above $60 due to Iran's call for oil production cut
Economic growth in the Euro-Zone is not at desired levels.
Director and Global Head of Islamic Finance at Standard & Poor's says that growing market for sukuk and new players mark 'significant interest' in Islamic finance.
The Ministry of Finance said that Denmark has written to China to "announce its intention to apply to be a founding member" of the AIIB.
Experts state that the crisis poses risks to the region, which is significant for oil production and exports in the world.
Federal Reserve removes word 'patient;' interest rate increase expected within months. Yellen says timing of rate rise 'not decided,' but will come anytime after April; holds current rates at 0 to 0.25 pct.
Many emerging-market currencies have fallen against the dollar in recent weeks
Anticipated Federal Reserve interest rate hikes making dollar strong against most emerging market currencies, Deputy Prime Minister Ali Babacan says.