Ashgabat, Turkmenistan, May 2
By Huseyn Hasanov – Trend:
The reports on the work carried out by the participants of the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline project and its financing will be delivered at the International Gas Congress in Turkmenistan’s Avaza, the national tourist zone at the Caspian Sea, on May 21-22, Trend reports referring to the Neytralni Turkmenistan newspaper.
The project is being implemented on the basis of intergovernmental agreements concluded among Turkmenistan, Afghanistan, Pakistan and India and attracts the attention of major investors from different countries and international financial institutions by its importance in terms of ensuring the sustainable development of the region.
During the congress, a number of documents are planned to be signed and transactions and contracts to be concluded.
Moreover, the trips will be organized for the delegates to visit the facilities of the Turkmengas state concern, the Petronas company and the Turkmenbashi international sea port. The congress is organized by Turkmengas in partnership with companies such as Turkmen Forum and British Gaffney, Cline and Associates. The representatives of leading oil and gas companies, major international organizations and financial institutions of the world intend to take part in the work of the congress.
Among these companies are Hyundai Engineering, Kawasaki, Shell, Petronas, Gaffney, Cline and Associates, NAPECO, Vitol, CNPC, Dragon Oil, ENI, Buried Hill, LG, Exxon Mobil, Shell and Gazprom.
Turkmenistan with its natural gas reserves holds one of the leading places in the world and ranks second in the CIS after Russia. Galkynysh gas field is one of the biggest fields in the world. The construction of the Turkmen section of TAPI, with an annual capacity of 33 billion cubic meters of gas, was launched on December 13, 2015.
The leader of TAPI Pipeline Company Ltd is Turkmengas, which has the controlling stake and acts as the main financier and project manager. The consortium also includes the Afghan Gas Corporation, Pakistan’s Inter State Gas Systems (Private) Limited and Indian GAIL.