OREANDA-NEWS. December 26, 2008.  Vice Premier T. Tagiev and Chairman of the Board of Gazprom Public Corporation Alexey Miller held the talks in the Turkmen capital.

During the talks the partners settled the major terms of construction of the Turkmen sector of the Caspian gas pipeline and installation of a gas treatment unit in one of the largest deposits in the world – Southern Yoloten.

Thus, the large-scale regional project on construction of the new gas pipeline which would be built along the eastern coast of the Caspian Sea initiated by President Gurbanguly Berdimuhamedov had entered the implementation phase.

The talks became an important step towards implementing the trilateral agreement signed in Moscow last December. The document proving the willingness of Kazakhstan, Turkmenistan and Russia to intensify steadily co-operation in the strategic gas industry fixed the mutual commitments of the participating countries interested in increasing the pipe capacity of the important gas transportation system. On the one hand, it will broaden an access for the large fuel exporters to the power-hungry European market and on the other hand, it will create powerful incentives for further development of the oil and gas infrastructure in the Caspian region whose abundant resources more often capture attention of the world’s business circles.

Turkmenistan has carried out the large-scale work to promote the Caspian gas pipeline project which is to be the reliable energy bridge between Europe and Asia.

Developing co-operation with Gazprom Turkmenistan invited Russia’s largest gas company to collaborate in the investment projects in Turkmenistan particularly providing for financing and construction of new gas pipelines, development of the deposits and increase of the capacity of the Turkmen sector of the Caspian gas pipeline to 30 billion cubic metres a year .