ISLAMABAD: The incumbent government has aggressively been pursuing international gas pipeline projects to meet the energy needs of the country, the Ministry of Energy (Petroleum Division) said in a statement on Sunday.
The Turkmenistan-Afghanistan-Pakistan-India Gas Pipeline Project and North-South Gas Pipeline Project are clear illustrations of such efforts of the ministry, it said.
The TAPI project has achieved substantial progress during the current year.
The ministry said the Heads of Terms of the Host Government Agreement have been signed with the TAPI Project Company in order to enable the company to start construction work in Pakistan.
The groundbreaking ceremony for Pakistan segment of the project is also being planned, which is expected to be held shortly, it added.
The TAPI Project Company (TAPI Pipeline Company Limited (TPCL)) has established its project office in Dubai and also opened a branch office in Islamabad.
To fund the project activities, the Government of Pakistan is regularly contributing its committed share in the project.
The TPCL is being managed by Turkmenistan being the majority shareholder and consortium leader in the project.
“The assertion appeared in a section of press that Pakistan is being represented in the project company through a foreigner or any financial embezzlement is being committed is absolutely wrong, baseless and concocted,” the statement read.
It said the project is professionally managed by Turkmenistan in accordance with the terms of the agreements between the four countries.
Moreover, the statement said, none from India, Afghanistan or Pakistan is representing their respective companies/countries in the company except through the Board of Directors of the company, where the three countries have equal representation.
“Pakistan being one of the shareholder has its representation on the Board of Directors of the Company through Managing Director-Inter State Gas Systems (Pvt) Ltd.”
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