Turkmenistan encourages major investors for TAPI implementation
Turkmenistan, Ashgabat, Aug. 4 / Trend H.Hasanov /
Conducting business tours in major business centers can attract major investors to build a Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline, Turkmen President Gurbanguly Berdimuhamedov said, speaking at a government meeting, the Turkmen government reported on Saturday.
"Conducting business tours in major business and financial centers in different regions of the planet will help to attract major investors to build a Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline, and create favorable conditions for a wider awareness of the international community with this project," the Turkmen leader said.
Organisation of the business tours is planned with the participation of the Asian Development Bank (ADB) in Singapore, New York, London in order to attract leading international oil and gas companies and financial institutions in the consortium that will provide the construction and future operation of the pipeline.
"Acceleration of the implementation of this important regional project is among the priorities of the state fuel and energy strategy aimed at diversifying gas transportation routes," Berdimuhamedov said.
Ashgabat has recently hosted a regular meeting of the technical working group on the TAPI, which considered a list of interested companies. The meeting was attended by representatives of participating countries and the ADB, acting as the secretariat of the project.
The Ashgabat interstate agreement of member stated that the practical implementation of the TAPI project signed in late 2010 is the base document to promote TAPI project.
In May 2012 Turkmenistan signed a memorandum of understanding with transit Afghanistan on TAPI. Contracts on sale of the Turkmen gas were also signed with the State Gas Systems of Pakistan and Indian GAIL ltd.
Daily deliveries can amount up to 90 million cubic meters of natural gas. Turkmen gas will help meet the growing energy consumption in India and Pakistan, where by 2030, demand could double, while the remaining part will facilitate the ongoing shortage of energy in transit Afghanistan.
The project cost was estimated in 2008 at $7.6 billion. Recently Bangladesh has expressed its interest in the project.
Independent experts have noted that in agenda the key is still the issue of security of the project, whose route will run through turbulent Afghanistan.
The resource base in addition to the Dovletabad field is the largest field in Turkmenistan, namely the Southern Yoloten - Osman (Galkynysh). Russia began to show interest in this project at a high level. Its implementation is supported by the U.S.
Turkmenistan currently supplies natural gas to China, Iran and Russia.