TAPI Countries Sign Investment Agreement
Turkmenistan, Afghanistan, Pakistan and India (TAPI) have agreed to invest $200 million in the next stage of the multi billion dollar TAPI pipeline project.
The agreement was signed during 24th meeting of the steering committee of the TAPI pipeline project which was held in Ashgabat on Thursday, Turkmen state owned news agency TDH reported.
The much delayed transnational pipeline was formally inaugurated on December 13. TurkmenGaz is the leader of the consortium and has 85 percent equity. Along with GAIL India, ISGS of Pakistan and Afghan Gas Enterprise (AGE) have 5 percent stake each. The TAPI pipeline will have a capacity to carry 90 million standard cubic metres a day (mmscmd) gas for 30 years and is planned to become operational in 2018.
The project is being implemented on the basis of intergovernmental agreements between the four states. The length of the TAPI will be approximately 1,814 kilometers. About 214 kilometers of the pipeline will traverse through Turkmenistan before entering Afghanistan. It will pass through Herat and Kandahar in Afghanistan before entering Pakistan. The pipeline will terminate at Fazilka in India.
According to TDH, state owned Turkmennebitgazgurlyshyk has begun work on Turkmen section of pipeline.