Gas-Rich Turkmenistan Is Running Out of Time to Feed Europe’s Fuel Appetite
- Nation sits on the world’s fourth-largest reserves of the fuel
- Financing and climate risks are key challenges for project
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Turkmenistan, which sits atop the world’s fourth-largest natural gas reserves, is running out of time in its efforts to feed Europe’s hot market for the fuel.
The country is losing out to other nations as Europe seeks new supply lines following an historic energy crisis. Its proposal to build a multibillion-dollar gas pipeline across the Caspian Sea faces major financing challenges, and climate change is quickly diminishing the appeal of big fossil-fuel projects.