TurkmenGaz to head TAPI pipeline, Consortium to jointly own the project
TurkmenGaz, a company owned by Turkmenistan government will lead the consortium for the Turkmenistan-Afghanistan-Pakistan-India (TAPI) natural gas pipeline.
This decision was collectively taken at the 22nd Steering Committee meeting held in Ashgabat, the capital of Turkmenistan.
TurkmenGaz has done major investment and owns larger stake in Project, other state run firms involved are Afghan Gas Enterprise, Inter State Gas Systems (Pvt) Ltd of Pakistan and GAIL (India) Ltd.
During the summit all countries agreed to jointly take ownership of a pipeline project and make investments as per to each techno-commercial viability.
This will make each member country the owner of the project and also will hold them accountable to implement it successfully.
The construction for the Turkmenistan segment of the pipeline will start in December 2015.
About TAPI Project:
It is a proposed trans-country natural gas pipeline from Caspian Sea, Turkmenistan to India through Afghanistan and Pakistan.
Countries involved: The abbreviation TAPI itself indicate its member countries- Turkmenistan, Afghanistan, Pakistan and India.
Distance: The pipe line connects central Asia with south Asia covering 1,800 km.
Reserves: Gas reserves is 16 trillion cubic feet.
Costing: The estimated construction cost of the project is 10 billion US dollars.
Capacity: It has capacity to carry 90 million standard cubic metres a day (mmscmd).
Supply Share: Both India and Pakistan will get supply of about 38 mmscmd whereas Afghanistan will get 14 mmscmd supply of natural gas.
Supply Life: The life of supply is expected to last for period of 30 years.
Operational from: expected to be fully operational from 2018.
Runs through: Galkynysh field, Turkmenistan – Herat and Kandahar province of Afghanistan – Multan via Quetta, Pakistan and ends at Fazilka (Punjab) in India.
Categories: Business & Economy Current Affairs 2018