Saudi Arabia to finance construction of TAPI gas pipeline’s Turkmen section
Ashgabat, Turkmenistan, Nov. 27
By Huseyn Hasanov – Trend:
The State Bank for Foreign Economic Affairs of Turkmenistan signed an agreement with the Saudi Fund for Development (SAMIRAD) on financing the purchase of gas pipes designed for the construction of the Turkmenistan section of the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline, said the Turkmen bank in a statement.
The agreement was signed aiming at successful implementation of the project on development of Turkmenistan’s gas industry for the period until 2030.
Earlier, Turkmenistan’s Oil and Gas Complex said citing Saudi Arabian Energy Minister Khalid Al-Falih that Riyadh supports the TAPI pipeline’s construction.
Moreover, it was emphasized that Saudi companies are ready to supply materials needed for the project.
The total length of the TAPI pipeline will be 1,814 kilometers. A 214-kilometer section of the pipeline will run through Turkmenistan, a 774-kilometer section will run through Afghanistan and an 826-kilometer section will run through Pakistan to Fazilka settlement on the border with India. The pipeline’s annual capacity will be 33 billion cubic meters of gas.
Construction of the Turkmen section of TAPI started in 2015 and is scheduled to be finished in late 2018.