...

Turkmenistan talks progress in construction of TAPI gas pipeline

Oil&Gas Materials 12 September 2018 15:15

Ashgabat, Turkmenistan, Sept. 12

By Huseyn Hasanov – Trend:

Information on the progress made in the construction of the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline, conducted in accordance with the plan, has been announced at the recent meeting of the Cabinet of Ministers of Turkmenistan, the state agency "Turkmen Dovlet Khabarlary" reported Sept. 12.

After hearing the report, President Gurbanguly Berdimuhamedov noted the international importance of the TAPI project in the context of the formation of a new architecture of global energy security, the strengthening of mutually beneficial trade and economic relations between the states of the region, and gave an order to keep under constant control the construction of the new main pipeline for transmission of energy resources, the message says.

Construction of the Turkmen section of the Turkmenistan-Afghanistan-Pakistan-India gas pipeline was launched in December 2015, while the Afghan section - in February 2018. The possible costs of the project vary between $7-10 billion.

Being the leader of the international consortium TAPI Pipeline Company Limited, Turkmengas with a controlling stake performs the functions of the main financier and manager of the project.

The consortium also includes the Afghan Gas Corporation, Pakistan’s Inter State Gas Systems (Private) Limited Company and India’s GAIL.

The consortium, with the participation of Asian Development Bank, continues active negotiations with all interested parties.

Various options for participation in the project are being studied, such as share participation, project financing, financing through international development banks and with the help of export credit agencies from around the world.

The total length of the pipeline, with a capacity of 33 billion cubic meters of gas per year, will be 1,840 kilometers reaching the settlement of Fazilka on the border with India. TAPI will export fuel from the Galkynysh gas field in Turkmenistan, which is the second largest in the world.

Tags:
Latest

Latest