Azernews.Az

Construction of Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline will meet the rapidly growing needs of the Asian energy market, Turkmen President Gurbanguly Berdimuhammadov said at a meeting, the Turkmen government said on Tuesday.

"Laying this transnational gas pipeline will allow to meet the rapidly growing needs of the Asian energy market through the export of Turkmen natural gas, as well as address a number of important social and humanitarian issues, including those related to the creation of new jobs, formation of the appropriate infrastructure along the gas pipeline," the report says.

The meeting heard a report on the outcome of the TAPI Steering Committee's meeting held in Ashgabat recently, which was attended by ministries and representatives of all participant countries of the project, as well as the Asian Development Bank (ADB).

The meeting discussed the results of the business tour to Singapore, New York and London in mid-September, in order to attract the leading oil and gas companies and financial institutions to the consortium, which will be created for the implementation of this major project.

Turkmen leader stressed that "the construction of the TAPI will not only guarantee further economic growth of the participant countries of the project, their social well-being, but also, more importantly, will help maintain peace and strengthen political stability throughout the region".

The basic document for promoting TAPI is the intergovernmental agreement signed by participating countries in Ashgabat in late 2010 to start implementing the project.
Important agreements on TAPI were signed for the purchase and sale of Turkmen gas with the State Gas Systems of Pakistan and Indian GAIL Ltd.

The project cost is estimated at $7.6 billion as of 2008. Bangladesh expressed its interest in the project.

Besides the Dovletabat field, the largest field being developed in Turkmenistan which is Galkynysh, may be a resource base. Russia expresses great interest in this project. The U.S. administration also supports the implementation of this project.
Turkmenistan supplies gas to China, Iran and Russia.