01 April 2000

The International Trans-Caspian Gas Pipeline Consortium, shared equally by PSG International and Royal Dutch-Shell Group, has submitted for consideration of the Turkmen president Saparmurat Niyazov the final proposals for construction of the Trans-Caspian Gas Pipeline (TCGP) from Turkmenistan to Turkey.

They have also attached the explanations that President Niyazov had expected.

The plan envisages prompt raising of funds for the gas pipeline and beginning of construction works this year.

The consortium intends to begin the transportation of 16 billion cu m a year in 2002. The joint ventures of Gazprom and Eni SPA mean to begin gas supplies to Turkey in 2001. The TCGP project is estimated at $1.9 billion.

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