Turkmenistan invited Russia to join TAPI construction

Oil&Gas Materials 30 April 2018 12:30 (UTC +04:00)

Ashgabat, Turkmenistan, April 30

By Huseyn Hasanov - Trend:

The Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline is a big project for participation in which Turkmenistan has invited many of its partners, including the Russian ones, Turkmen President Gurbanguly Berdimuhamedov said in an interview with Rossiya 24 TV channel.

He also said the interests of those who produce, transit and consume should be taken into account in energy security issue. "This is very important," the Turkmen president said.

Construction of the Turkmen section of the TAPI gas pipeline started in December 2015, and work has recently commenced on the Afghan section of the gas pipeline. Being the head of TAPI Pipeline Company Limited, the state concern Turkmengas, which has a controlling stake, serves as the main investor and manager of the project.

The consortium also includes the Afghan Gas Corporation, Pakistan’s Inter State Gas Systems Limited Company, and the Indian GAIL Company. The potential cost of the TAPI project ranges from $8 billion to $10 billion.

The consortium, with participation of the Asian Development Bank, continues active negotiations with all interested parties. Various options of participation in the project, such as participation in the company's share, project financing, financing through international development banks and with the help of export credit agencies from around the world, are being studied. The total length of the pipeline, with a capacity of 33 billion cubic meters of gas per year will be 1,840 kilometers.

TAPI will export fuel from the Galkynysh gas field in Turkmenistan, the second largest in the world.