“The Trans-Caspian gas pipeline project in the region is critical for Europe’s sustainable energy supply. We had detailed discussions with the US and Russian representatives on this project,” Nusret Comert, chairman of the Board of Damnus Energy and Investment Company, told Report within the World Economic Forum held in Davos, Sweden.

According to him, the Caspian Forum, held as part of the event, is one of the most important forums.

Notably, the US is more interested in the Trans-Caspian project than the EU. One of the significant obstacles in implementing the plan is the lack of legal status of the Caspian Sea.

Under the agreement signed in early 2000, Turkmenistan was to export 16 billion cubic meters of gas to Turkey, while 14 billion cubic meters to Europe via the Trans-Caspian gas pipeline. Although Azerbaijan was considered a transit country in this project, then it turned into a significant exporter of “blue fuel” with the discovery of gas fields “Shah Deniz 1” and “Shah Deniz 2”.

Comert stressed that the TANAP project is the most significant achievement in the East-West corridor,” he said. “Although many projects are off the agenda, this project has been implemented.”