Ashgabat, Turkmenistan, Aug. 15
By Huseyn Hasanov – Trend:
The signing of the Caspian Convention is a historic step towards global energy security, Turkmen Dovlat Habarlary state news agency reported Aug. 15.
On August 12, 2018, after more than twenty years of negotiations, the Caspian countries adopted the Convention on the legal status of the Caspian sea. The document was signed during the 5th summit of the Caspian heads of state in Aktau by the presidents of Azerbaijan, Turkmenistan, Kazakhstan, Russia and Iran.
When agreeing on the text of the Convention, the countries were able to reach consensus, which indicates mutual respect and readiness for an agreed settlement of all emerging issues, the agency emphasized.
It is mentioned in the Convention that the seabed and subsoil of the mineral-rich Caspian sea will be divided according to the sectoral principle, while the water area itself will be divided into internal and territorial waters, fishing zones and common water area.
The Convention also states the possibility of laying underwater cables and pipelines on the bottom of the Caspian sea "provided that their (Caspian countries’) projects comply with environmental requirements and standards set out in international treaties to which they are parties," wrote the agency.
It is specified in the text of the document that only those countries through the sector of the bottom of which the cables or the pipelines will be laid, will determine their laying route.
This means that the Trans-Caspian pipeline-an underwater gas pipeline that should link the city of Turkmenbashi in Turkmenistan with Baku in Azerbaijan and further with the markets of Western Europe – can no longer be vetoed.
"The Convention specifies that pipelines are a matter of bilateral negotiations between the countries on whose territory they pass. A parallel environmental pact implies that other coastal states will be able to influence infrastructure projects and control the environmental side of the issue," wrote the agency.
The signing of the Convention on the legal status of the Caspian sea is an important step towards global energy security. All further issues in the region will be resolved on the basis of this document and the agreements concluded at the 5th Caspian summit, said the agency.
The next Caspian summit will be held in Turkmenistan.
Earlier, the "Turkmengaz" State Concern said in a statement that the adoption of the Convention can significantly increase the investment attractiveness of the "Southern Gas Corridor" (SGC) project.
The relevant negotiations have been conducted since 2011 between the interested parties-the EU, Azerbaijan and Turkmenistan. In particular, the project of laying a Trans-Caspian gas pipeline to the shores of Azerbaijan, from where the Turkmen raw material can be delivered to Turkey and further to Europe, is being promoted.
The Trans-Caspian project can be implemented within the framework of the EU-lobbied SGC project. The Trans-Anatolian (TANAP involving Azerbaijan and Turkey) or AGRI (Azerbaijan-Georgia-Romania Interconnector) projects can be useful in this context.
In May 2015, the Ashgabat Declaration on energy was signed. It was signed by the ministers of energy of Azerbaijan, Turkey, Turkmenistan and Vice-President of the European Commission for Energy Union Maros Sefcovic. Later, Georgia joined the negotiation process.
At the same time, Turkmenistan declared its readiness to supply Europe with up to 40 billion cubic meters of gas annually, of which 10 billion can be provided by Malaysian Petronas Ltd. oil and gas company operating in the Turkmen sector of the Caspian sea. The rest of the volume can be provided using the capacity of the East-West gas pipeline, which starts from the large Turkmen Galkynysh field and ends at the coast of the Caspian sea.
In turn, Azerbaijan expressed its readiness to provide its territory, transit opportunities and infrastructure for the implementation of this project.
