The Caspian Sea gas “big game” is the scene of an astonishing reconfiguration. The American company Trans Caspian Resources (TCRI), created in April 2021 by several former BP executives, today claims to be able to revive a former submarine gas pipeline project directly connecting Turkmen resources to the Southern Gas Corridor (SGC) , a network of gas pipelines running to Southern Europe.
The main interest of the TCRI project comes down to its very low cost: between 500 million and 800 million dollars (between 442 million and 707 million euros) to move 12 billion cubic meters of Turkmen gas per year. That is to say between three and ten times less expensive than the preceding projects. The proposed pipeline is only 70 kilometers long and connects not the two banks of the Caspian, but two already existing pipelines, one Azerbaijani, the other Turkmen, each pumping gas from offshore platforms in the opposite direction.
The other interest, according to TCRI lead lobbyist Allan Mustard, is to transport gas ” lost “. The former US ambassador to Turkmenistan told the World that the TCRI does not involve any additional gas extraction, but will be supplied by gas ” mixture “ and gas “Flared”. Either a gas that rises to the surface during oil extraction, but which is either released into the atmosphere as methane or burnt. Both forms of waste are extremely polluting. Turkmenistan is singled out as the world’s third largest emitter (behind Russia and the United States) of methane, a gas responsible for a quarter of carbon emissions.
Reluctance of Western institutions
The American company is currently seeking financing in a context of strong reluctance of Western institutions to invest in the hydrocarbon sector. The use of recovered gas “Allows a partial replacement of more carbon-rich fuels such as coal and petroleum, and would help achieve the objectives of the Paris Agreement.” This could make [notre projet] eligible for institutional funding ”, believes Allan Mustard.
The Azerbaijani state gas giant has already expressed its formal support for the project. More reserved, the Ambassador of the European Union (EU) in Ashgabat, Diego Ruiz Alonso, told official Turkmen media in early December that the TCRI project is the “More easily achievable” and the “More viable” transcaspian projects.
Mainly interested, Turkmenistan has so far not let anything leak out of its intentions, which feeds skepticism. Rauf Mammadov, an Azerbaijani energy expert at the Middle East Institute, notes that the Florida-based company is “Appeared a little out of the blue for a crucial infrastructure project carried out abroad”. The expert sees especially in TCRI “A company incorporated specifically for the purpose of lobbying to promote an old concept to American leaders.”
You have 48.3% of this article to read. The rest is for subscribers only.