Much attention is currently focused on the attempts to agree terms for building a Trans-Caspian Gas Pipeline (TCGP) underneath the Caspian Sea from Turkmenistan to Azerbaijan, allowing natural gas from Turkmenistan to find a route to Europe. The European Commission (EC) was recently authorized by the EU to participate in working out the terms of the project.
To put the present situation in perspective, it is useful to recall the last time such an attempt was made. That was back in the late 1990s, when US firms first sought to construct such a pipeline. That TCGP consortium was half-owned by PSG International, and half by GE Capital and Bechtel (who later also included Royal Dutch Shell in the venture).
First as tragedy: The 1990s
Caspian Sea
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