ASHGABAT, Turkmenistan, Nov. 8
By Huseyn Hasanov– Trend:
SACE, an Italian export credit agency, is involved in the implementation of the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline project, the Neutral Turkmenistan newspaper wrote citing SACE Chief Underwriting Officer Dario Liguti, Trend reports.
According to Liguti, the agency is also involved in projects for the industrial development of the Galkynysh gas field in Turkmenistan's Mary province and in the country's textile industry.
The company provides support to Italian suppliers of products for projects such as TAPI, for the development of hydrocarbon deposits and in the field of petrochemicals.
After full commissioning of the TAPI pipeline with a length of more than 1,840 kilometers, it will be possible to supply 33 billion cubic meters of Turkmen natural gas annually.
“The implementation of this ambitious project will give a powerful impetus to the economic development of a huge region, contributing to the solution of social and humanitarian problems, strengthening peace and stability,” the report said.
It is also reported that the active industrial development of the TAPI source of raw materials, the Galkynysh gas field, reserves of which together with the nearby Yashlar and Garakel fields are estimated at more than 27 trillion cubic meters of gas, continues.
The consortium, with the participation of the Asian Development Bank (ADB), continues negotiations with all interested parties. In December 2018, it was reported that the ADB and the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) intend to provide funding for the TAPI project.