Partners of the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline have signed the service agreement with the trans-action advisor of the project –Asian Development Bank (ADB) - at the International Oil and Gas Conference, reported the Turkmenistan TV.
The document has been signed between the state concern Turkmengas, Afghanistan Gas Corporation, Pakistani Inter State Gas Systems , Indian Gail Limited company and ADB.
The statement reads that by signing the agreement the sides have prepared all legal and commercial documents and have come close to creation of TAPI Ltd consortium, which will implement the project. The technical and legal issues of the project are currently under consideration. It is also planned to involve leading foreign companies with technical possibilities and practical experience of the pipeline construction into the works.
ADB will acts as a trans-action advisor of the TAPI gas pipeline project. Its main goal will be creation of TAPI Ltd company, the main shareholders of which will be authorized representatives of the sides, and search for the leader of the consortium to implement one of the biggest energy projects on the Asian continent.
Total length of TAPI gas pipeline will be 1735 km. 200 km of pipeline will pass through Turkmenistan, 735 km through Afghanistan, 800 km through Pakistan and then it will reach Fazilka settlement on the Indian border. The annual carrying capacity of the gas pipeline must be 30 billion cub.m.—0--
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