ABU DHABI: The TAPI gas pipeline project for supplying of Turkmenistan’s gas to India and Pakistan through Afghanistan is projected to move closer, by getting funds & and a concluding investment pronouncement which is expected by next year, as per its chief executive’s statement on Tuesday.
Chief executive of the TAPI Pipeline company, Muhammetmyrat Amanov, briefed in an industry conference in Abu Dhabi, that the estimated price of the pipeline had been abridged to $7 billion as compared to the initial estimation of $10 billion,. Also, the project’s first phase can only cost $5 billion.
He also stated, “We are scheduling to make a final investment decision (FID) in the first half of next year and then, step by step, stage wise, finalize construction in Pakistan, Afghanistan and India.”
He added, initially the gas will be delivered to Afghanistan in the time span of almost one year from the FID, and delivery to Pakistan will be possible within two years.
It need to be mention here that TAPI gas pipeline project is supported by import/export credit agencies based in Germany & Italy, which will eventually sponsor exports of equipment for the project from the countries associated.
However, other probable financiers for this project embrace the Asian Development Bank and the Islamic Development Bank.