President: Gas pipeline project from Turkmenistan to India becomes more important
Turkmenistan, Ashgabat, Oct. 5 / Trend H. Hasanov /
The Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline construction project becomes more important and acquires real features of practical implementation, Turkmen media reported on Saturday citing President Berdimuhamedov's statement.
According to the statement, the expanded government meeting was held in Ashgabat. The agenda included the report on TAPI.
"It is planned to build hundreds of infrastructure facilities along the gas pipeline," Neutral Turkmenistan newspaper cited the president. "TAPI will be a real contribution to the establishment of international energy cooperation, an effective stabilizing factor having a positive impact on the entire situation. It will give additional stability to the entire system of political and economic relations on the Asian continent."
Turkmen Dovlet Khabarlary State Information Service drew attention to the active work of TAPI specialists from all participating countries. At present, the necessary legal framework was created for resolving issues related to the formation of the consortium. It will ensure financing and construction of energy highway.
"Besides the leading companies specializing in the oil and gas sector, many foreign financial and banking organizations showed great interest in Asia's largest energy project. This testifies to its profitability."
According to the Turkmen TV, while speaking at a government meeting, the country's president said that Turkmenistan has huge hydrocarbon potential, confirmed by authoritative international experts.
"Much has been done to diversify the natural gas export supplies to the international markets for the past few years," Berdimuhamedov said.
According to him, the plans on diversification are based on economic interests and take into account potential buyers' demand for Turkmen gas.
"Turkmenistan is gradually exporting its gas to many countries," he said. "The countries located in different parts of the Eurasian continent are among them."
The basic document for the promotion of TAPI project is the Ashgabat interstate agreement of the state parties on the commencement of the practical implementation of the TAPI project signed in late 2010.
In May 2012, the Turkmen government entered into an agreement for the sale of natural gas with India's GAIL Ltd. A memorandum of understanding was signed with Afghanistan in July 2013.
The design capacity of TAPI is 33 billion cubic meters of natural gas per year. The estimated length is 1,735 kilometres. It is expected that the pipeline will extend from the largest gas field in Turkmenistan, Galkhynysh, through the Afghan cities of Herat and Kandahar to the Fazilka settlement on the Pakistani-Indian border.
Turkmenistan ranks fourth in natural gas reserves in the world. The country is exporting this fuel to the markets of China, the CIS countries and Iran. Besides South Asia's markets, the variants of laying the gas pipeline from Turkmenistan to Europe are being examined.