Turkmenistan expects to sign an agreement by the end of November with a consortium of European energy companies to supply natural gas to Europe along a route that would by-pass Russia for the first time, the Telegraph newspaper reports, citing a Turkmenistan official.

Koen Minne, Turkmenistan's honorary consul to the European Union, who is spear heading the scheme, said a consortium of two European Energy companies and one financial institution were aiming to strike a gas supply deal with Turkmenistan by the end of November that would deliver natural gas into Europe by 2014, the Telegraph reports.

"Our timeline is to get an agreement in principle during the month of November," the newspaper said, citing the consul. "The feasibility study was completed in the middle of September, and we've come to our conclusions on the commercial part," he said.

The consortium, which includes ENI Spa (E), aims to build a fleet of at least four tankers to ship 3-4 billion cubic meters of compressed natural gas across the Caspian Sea to pipelines in Azerbaijan from where it would be shipped to turkey.

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