Search
      Channels
  News
  Home Loans
  Commercial Loans
  Insurance
  Credit Cards
  Calculators
  NRI Center
     Investment
  Mutual Funds
  Stock Research
  Market Tools
  Special Reports
  Fund Focus
  Company Focus
  Sector Focus
  Interviews
     Services
  Greetings
  Message Board
Partners
Home -> Finance -> Full Story
US eyes global energy assets with historic gas deal
Thursday, May 30 2002 11:08 Hrs (IST)

Islamabad: It may not be as romantic as the 19th Century cloak-and-dagger antics of British and Russian spies, but May 30 historic move towards laying a gas pipeline from Turkmenistan to Pakistan is a new phase in the legendary 'Great Game', analysts say.

"The Great Game related to energy has just begun," Lieutenant General Hameed Gul, former chief of Pakistan's Inter Services Intelligence (ISI) said.

And while British and Russian adventurers conned and connived for the control of trade routes in Central Asia, the new players have the modern equivalent in sight, fuel.

"During the course of time the energy resources of the Gulf states are going to dwindle and there are going to be enormous resources available in Central Asia," said Gul.

"Whoever gets there first obviously has an advantage. This is the game to regulate the energy resources of Central Asia."

The leaders of Turkmenistan, Afghanistan and Pakistan will sign an agreement towards opening up the Turkmen gas reserves by laying a pipeline to Pakistan over Afghanistan.

Pakistani officials said the gas line, a first for the country, is expected to be followed swiftly by an oil line. The fuel will then be pumped into a thirsty world economy from Pakistan.

A R Kamal, director of the Pakistan Institute of Development, said it was no coincidence the agreement comes just months after a new government was installed in Kabul.

"This development is rather significant," said Kamal, referring to the Memorandum of Understanding (MoU) set to be inked in Islamabad on May 30.

"If it materialises and the basic problem that was security in Afghanistan is removed, then it is really a big breakthrough. This project has been there since the early 1990s but peace and stability in Afghanistan was the main factor which prevented it."

Gul was convinced America had its eye on controlling global energy resources.

"The American desire at the moment is to capture the 21st Century as the American Century and they do not want any other power to interfere in their very coveted position," he said.

"They can obviously then regulate the economy of the world through the energy tap."

"I think it is not only America's corporate interest of exploiting the energy resources of Central Asia but there is a strategic implication to this."

He said the players assembled in Islamabad this week, interim Afghan leader Hamid Karzai, Pakistani President Pervez Musharraf and Turkmen President Saparmurtar Niyazov, were itching to get the deal done.

"This agreement is coming in a hurry," said Gul.

"They are in a hurry so that a treaty could be concluded before a new government is installed in Afghanistan."

But he warned not everyone may play by the rules.

"It is a very messy game and it has just started, and let's see how it ends," he said.




















AFP
Copyright AFP 2001