TAPI Nations Sign Agreement for Initial Investment

Turkmenistan-Afghanistan-Pakistan-India (TAPI) have signed initial investment agreement regarding the multi-billion dollar gas pipeline project, reported Express Tribune, a Pakistani newspaper.

The agreement, which was inked in Istanbul last month, will clear the way for updating the feasibility study and finalising the pipeline route in Afghanistan, the newspaper said Friday.

“We have initialed an investment agreement in Istanbul and the final deal will be signed soon,” ISGS managing director Mobin Saulat was quoted as saying by the paper.

The much delayed TAPI gas pipeline project was formally inaugurated on December 13.

TurkmenGaz will be the leader of the consortium and shall take 85 percent equity. Along with GAIL India, ISGS of Pakistan and Afghan Gas Enterprise (AGE) will also take 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.