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Russia and Turkmenistan postpone Caspian Gas Pipeline construction

23 October 2010 09:59 (UTC +04:00)

The project was postponed because of expectations of small rising gas market research rate in European Union, which will create problems in gas transportation to Europe, Sechin said.

He added that the project has been suspended temporarily and its future would depend on the market conditions.

According to the diplomatic sources, Turkmen President Gurbangulu Berdimuhammedov was dissatisfied with postponing of the Caspian Gas Pipeline project and it could encourage Turklmenistan to join Nabucco.

Gazprom began talks with Turkmenistan to persuade Ashgabat to avoid this idea and to join the Turkmenistan-Afghanistan-Pakistan-India gas pipeline project, Kommersant said. Gazprom is looking forward to be an investor in this project, which is evaluated as Russiaâ€™s intention to assist Turkmenistan to get access to the Asian gas market and to prevent its joining Nabucco project.

Sechin said Nabucco had no prospects.