Turkmenistan and Kazakhstan withdraw from undersea Caspian pipeline

Nov 29, 2006 01:00 AM

The Director General for Caspian Oil and Gas at the Ministry of Petroleum noted that participation in the liquefied natural gas projects has caused Kazakhstan and Afghanistan to withdraw from building an undersea oil pipeline in the Caspian Sea.
Mahmoud Khaqani told that Iran and Russia oppose the pipeline due to environmental consequences.

The official stated that the undersea pipeline lacks economic feasibility and Caspian Sea countries should be encouraged to invest in transferring their oil and gas through Iran. Khaqani noted that recent negotiations and agreements signed by Turkmenistan with China, Ukraine and Russia have reduced their willingness to go on with the pipeline.
“Iran is the best place for investment in oil and gas reserves and any investment in Iran’s oil and gas will be returned in the shortest possible time,” he said.

Source: PIN
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