The European Union (EU) is hoping to restart negotiations with Azerbaijan and Turkmenistan to have joint activities with regard to the Trans-Caspian gas pipeline, the U.S.-Azerbaijan Chamber of Commerce reported on Wednesday.
The pipeline consists of 300 kilometers to be laid from the Turkmenistan coast of the Caspian Sea through Azerbaijan, where it will be linked to the Southern Gas Corridor. The pipeline is said to move 30 to 40 billion cubic meters of gas annually.
Both countries are interested in alternate routes from the Caspian region to Europe for export. The area is rich in natural resources.
Negotiations have taken place between the countries and the EU since 1990. While representatives from Azerbaijan report the city of Baku's readiness for the project, Russia and Iran have voiced skepticism toward the project. According to them the pipeline could hurt the ecology of the area.