South Caucasus

Turkmenistan, for decades considered one of the most closed countries in the world, is moving towards modest attempts at opening up its economy. Western sanctions against Russia which caused a gradual halt to energy supply from Russia to Europe and swelling Russian gas supplies to China, once Turkmenistan’s almost-exclusive client, made Ashgabat face a new reality that challenged its longstanding economic model, resulting in a significant deterioration of living standards and social discontent. Against this background, the country had to start considering options for diversifying its gas export geography and attracting foreign investment, writes Murad Muradov in this analysis prepared for commonspace.eu. The big question remains however whether the long-cherished idea of the Transcaspian pipeline, a link which would bring Turkmenistan’s gas to European markets, will finally come to fruition after many years of aborted attempts and uncertainty. This may be within reach sooner and faster than expected.