TAPI Endorses Turkmengaz as Consortium Leader

TAPI Endorses Turkmengaz as Consortium Leader TAPI Endorses Turkmengaz as Consortium Leader

The TAPI Steering Committee has unanimously endorsed State Concern “Turkmengas” as the consortium leader of TAPI Pipeline Company Limited to spearhead efforts to build, finance, own and operate the planned 1,600-kilometer Turkmenistan-Afghanistan-Pakistan-India natural gas pipeline.

The endorsement was given during the Steering Committee’s 22nd meeting attended by petroleum ministers of Turkmenistan, Afghanistan, Pakistan and India, and senior officials of  the Asian Development Bank, in Ashgabat, Turkmenistan, on Thursday, ADB reported.

“The endorsement of Turkmengaz as consortium leader is a critical milestone in achieving the successful development of the TAPI pipeline project. It is a glowing endorsement of the continued cooperation among the TAPI countries, with the able assistance of Asian Development Bank, as our transaction advisor," said Baymyrat Hojamuhammedov, deputy prime minister of Turkmenistan.  

"When operational, the pipeline will deliver enhanced energy security, business prospects and overall economic stability in the region.”

Once completed, the TAPI pipeline is expected to export up to 33 billion cubic meters of natural gas a year from Turkmenistan to Afghanistan, Pakistan and India over three decades. Turkmenistan has the world’s fourth largest proven gas reserves and the pipeline will allow it to diversify its gas export markets.