Shell remains confident over Trans-Caspian gas pipeline

Shell has expressed confidence in the future of a proposed Trans-Caspian gas pipeline to Turkey, costing $ 2 bn, despite a decision by a key US partner to close its offices there. "Shell still remains committed to the Trans-Caspian pipeline project and stands ready to develop it once the political will is there to make it happen," a Shell spokesman said.
The PSG consortium, consisting of General Electric and Bechtel, announced that it would close its offices in Ashkhabad owing to uncertainty over the project. Shell will now take a leading role in moving the proposal forwards and PSG will have to decide whether to rejoin the project once it reaches the implementation stage, the spokesman said.

Shell will remain in Ashkhabad and PSG will stay inside the pipeline consortium with Shell, said the spokesman. Both have a 50 % stake in the project. The Trans-Caspian pipeline to take gas from Turkmenistan to Turkey over a distance of 2,000 km and at a cost of $ 2 bn has been heavily backed by the United States as a way of lessening Turkmenistan's dependence on Iran and Russia.