Turkmengaz endorsed as consortium leader for TAPI Gas Pipeline Project

Aug 07, 2015 12:00 AM

State-owned Turkmengas of Turkmenistan has been unanimously endorsed as the consortium leader of the TAPI Pipeline Company Limited to spearhead efforts to build, finance, own and operate the planned 1600 kilometre Turkmenistan-Afghanistan-Pakistan-India (TAPI) natural gas pipeline.

The decision was taken by the TAPI Steering Committee during its 22nd meeting attended by Petroleum Ministers of Turkmenistan, Afghanistan, Pakistan and India, and senior officials of  the Asian Development Bank (ADB), in Ashgabat, Turkmenistan yesterday.

“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.  When operational, the pipeline will deliver enhanced energy security, business prospects and overall economic stability in the region,” said Baymyrat Hojamuhammedov, Deputy Prime Minister of Turkmenistan.

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.

Turkmengaz, the national gas company of Turkmenistan, has over 50 years of experience in the production, development and transportation of gas, as well as construction of gas pipelines. It is anticipated that other suitable companies will join the consortium leader group at a later stage.

ADB has acted as the Secretariat for the TAPI pipeline project since 2003.  In 2013, ADB was appointed Transaction Advisor. In the latter role, ADB facilitated the establishment of TAPI Pipeline Company Limited, and has actively been involved in identifying and selecting a consortium leader to spearhead the implementation of the pipeline.

“ADB congratulates all the key stakeholders on achieving this significant milestone.  We are honored as Transaction Advisor to have helped advance this historical and regionally important project,” said Sean O’Sullivan, Director General of ADB’s Central and West Asia Department. “Much has been achieved already, and ADB looks forward to helping the TAPI pipeline progress further toward first gas.”

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