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April 3, 2007 / 12:54 PM

EU ready to back Trans-Caspian pipeline

BAKU, Azerbaijan, April 3 (UPI) -- The European Union has said it is ready to back a Trans-Caspian gas pipeline.

"EU is ready to sponsor the creation of the Trans-Caspian gas pipeline," an EU official said Monday in Baku, Azerbaijan, following a meeting with Azerbaijani, Kazakh and Georgian officials.

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The comments were reported by Russia's Itar-Tass news agency, which did not name the official.

During the meeting, Azerbaijani Industry and Energy Minister Natik Aliyev said Baku was "ready to cooperate not only with Turkmenistan, but also with Russia and Iran in the issues of gas transportation from Central Asia to Europe through the territory of Azerbaijan."

EU officials said the cost of the Trans-Caspian gas pipeline would be $5 billion.

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