Azerbaijani President Ilham Aliyev considers it unrealistic to implement the Trans-Caspian gas pipeline construction project in the current conditions until there is clarity about the sources of financing. "The expansion of our pipeline systems is associated with an increase in our own resources. In order to obtain additional volumes of gas from the eastern part of the Caspian Sea, it is certainly necessary to build a Trans-Caspian underwater gas pipeline. Secondly, it is necessary to create an infrastructure similar to the Southern Gas Corridor (SGC) from Baku towards Europe," Aliyev said in Shusha on Friday. The Head of State noted that the question arises "who will finance this project?". "There is no answer to this question yet. Therefore, until an answer to this question is found, I think the implementation of this project does not look so realistic," Aliyev said. The President also stressed that currently European banks do not finance mining projects and it will be very difficult to raise funds for this project. "When the SGC project was being implemented, we attracted funds from the European Development Bank, the European Investment Bank, the Asian Development Bank, etc. But currently, two European institutions do not finance such projects, but finance green energy projects," Aliyev said. The Head of State also touched upon the issue of the formation of gas prices in Europe. "We are also seeing changes in gas prices in Europe. In addition, the ceiling imposed on gas prices is unacceptable. Consumers set a ceiling on prices, which contradicts the principles of a market economy, despite the fact that European countries have been supporters of market principles for years. Thus, in the realities of today, this is a very serious problem. If someone wants to implement the Trans-Caspian project, we will be happy. Additional transit duties will be paid to us and additional opportunities for cooperation will be created," Aliyev concluded

Source: Turan News Agency