European energy firms 'to use gas from Turkmenistan'

02 Nov 2010
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European energy firms 'to use gas from Turkmenistan'

A pair of European energy firms are bidding to purchase natural gas from Turkmenistan to aid them in their operations.

According to a report in the Telegraph, this will be the first time the country has been able to negotiate a trade for its huge resources without going through Russia.

The newspaper claimed that Koen Minne, Turkmenistan's honorary consul to the EU, has revealed that two European energy companies are in on the deal.

"Our timeline is to get an agreement in principle during the month of November," he said.

"The feasibility study was completed in the middle of September and we've come to our conclusions on the commercial part."

This comes shortly after the European parliament announced that it is to provide a massive amount of funding to help start renewable energy developments around the continent.

Some €146 million (£126 million) of uncommitted funds will be devoted to developments to help countries meet their targets regarding the reduction of carbon emissions over the next decade.  

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