Europe Natural Gas Prices Surge to EUR 29/MWh Following Russian Attack on Ukrainian Facility
Natural gas prices in Europe experienced a significant spike, surpassing 2% to reach 29 euros per megawatt-hour (MWh) on Monday
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The presidents of Turkmenistan and Iran, Gurbanguly Berdimuhamedov and Mahmoud Ahmadinejad, launched Sunday the new Hangeran-Sangbast natural gas pipeline.
The USD 1.2 B pipe is an extension to the Dovletabad-Serahs-Hangeran pipeline opened early 2010, reported Regnum.ru.
Some 500 km of pipelines were launched for use Sunday. They will help the traffic of natural gas from Turkmenistan to Iran to reach 20 B cubic meters per year.
A senior Iranian government representative spoke of his country's desire to become a regional gas hub, and the opportunity to interconnect its gas network with that of neighboring countries - Azerbaijan, Armenia, Georgia, Turkey, as well as Iraq and Pakistan.
Regnum had information that Turkmenistan also expects to imminently launch a major pipeline to Afghanistan, Pakistan and India.
Turkmenistan is one of the chief expected sources gas of EU-suponsored Nabucco pipeline project, which is seen as vital for the diversification of gas deliveries in Europe, and to which Bulgaria is party.
The most natural route for Turkmen gas to reach Europe is via Iran, but details about that have apparently not been arranged at all, given the difficult political situation. Another option would see natural gas crossing the Caspian Sea to Azerbaijan.
Last week Turkmenistan made a strong pledge to supply 40 B cubic meters of gas to Nabucco per year.
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