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20.11.13 11:57

Another agreement on TAPI gas pipeline project signed in Ashgabat

The State Concern Turkmengaz, the Afghan Gas Corporation, the Interstate Gas Systems (Private) Limited (Pakistan), Gail Limited (India) and the Asian development Bank have signed a Transaction Advisory Service Agreement on the Turkmenistan-Afghanistan Pakistan-India (TAPI) gas pipeline in the framework of the International Oil and Gas Forum in Ashgabat.

All legal and commercial documents have been prepared. The natural gas purchase-and-sale contracts have been signed by the legal entities of participating countries.

The sides have come close to establishing the TAPI Ltd Consortium to deal with the practical implementation of the project. The sides are currently looking at legal and technical issues to establish the consortium, as well as issues relating to invitation of leading foreign companies with relevant technical capability, advanced technologies and hands-on experience in construction of pipelines.

The Asian Development Bank is now acting as a transactional advisor for TAPI gas pipeline project, whose primary task will be establishing the TAPI Ltd project company and selecting the consortium leader for implementation of one of the Asian largest energy projects. The above-mentioned authorized representatives of the participating countries will be the company’s major shareholders at the initial stage.

The total length of the pipeline will be 1,735 km, including 200 km in the territory of Turkmenistan, 735 km in the territory of Afghanistan, 800 km in the territory of Pakistan, finishing at the settlement of Fazilka on the border with India. The annual capacity of the pipeline will be 30 billion cubic meters.

 

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