Turkmenistan-India gas pipeline agreement to be concluded soon – official news agency

February 3, 2014

The parties interested in the construction of the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline came close to creating a consortium, Turkmen Dovlet Khabarlary (TDH) state news agency said in an analytical material, Trend reported on January 31.

"Currently the sides have come close to creating TAPI Ltd. consortium, which will deal with the practical implementation of the project," the information said.

Presently legal and technical issues on its creation are being studied, as well as engaging leading foreign companies that have necessary technical capabilities, advanced technology and practical experience in the construction of pipelines.

As TDH stressed, all the necessary legal and commercial documents on TAPI project are ready. The contracts on purchase and sale of natural gas were signed between entities of participating countries.

"The Asian Development Bank (ADB) serves as a transactional advisor on TAPI gas pipeline project. Its main task is to develop the project company TAPI Ltd., as well as to search for the leader of the consortium to implement one of the largest energy projects in the vast Asian space," TDH said.

Copyright: Trend, 2014