The sides interested in construction of the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline have come close to creation of the consortium, reported the Turkmenistan state news service.
“Now the sides have been working to create TAPI Ltd consortium, which will implement the project,” said the same source. The legal and technical issues of creation of the consortium and involvement of foreign companies that have required technical possibilities, advanced technologies and experience of construction of the pipelines, into the works are currently under consideration.
All required legal and commercial documents have been already prepared. The contracts for purchase-sale of natural gas have been signed between the economic subjects of the countries-partners of the project.
“Asian Developement Bank (ADB) acts as a transaction advisor of the TAPI gas pipeline project. Its main goal is to create TAPI Ltd company and search for the leader of the consortium to implement one of the biggest energy projects on the Asian continent,” said the Turkmen state news service.
The basic document for TAPI is the intergovernmental agreement between the state-partners on the beginning of the project implementation signed in Ashgabad in 2010. A serious obstacle for the project is unstable situation in Afghanistan, which is a transit country, but the Kabul officials insist that they will be able to guarantee security of the route.
In May 2012 the Turkmen government signed the agreement on purchase-sale with the Indian GAIL Ltd ans Pakistani State Gas Systems. On July 9, 2013 the similar agreement was signed with Afghanistan.
The Turkmen press wrote that the leaders of the US Chevron and Exxon Mobil, British BP and GP Group, German RWE, Malaysian Petronas and other companies have familarized themselves with the main conditions of the TAPI project implementation and expressed their intention to participate in it.
TAPI capacity is up to 33 billion cub.m. of gas a year. The pipeline length could reach 1735 km. The pipeline will strentch from the biggest Tukmen gas field Galkynysh to Fazilka settlement on the border of India and Pakistan through the Afghan cities of Gerat and Kandagar.—0—
Economics
-
On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
-
Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
-
Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
-
Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
Leave a review