The long-delayed TAPI (Turkmenistan, Afghanistan, Pakistan and India) pipeline project is in the final stages of financing. Turkmenistan borrowed US$700 million from the Islamic Development Bank (IDB) to finance the construction of the natural gas pipeline through Afghanistan to Pakistan and India, according to an official news agency.
The project has faced difficulties in obtaining financing and concerns about security in Afghanistan have led to lengthy delays.
Designed to ease Turkmenistan’s dependence on Russia and China, the US$10 billion TAPI pipeline, which involves the four countries' energy companies, would originate at the giant Galkynysh gas field in Turkmenistan before carrying 33 billion m3/y of gas.
The 15 year IDB loan will be used to finance construction work and equipment purchases.
Mobin Saulat, Head of Pakistan's state-owned Inter State Gas Systems, told Reuters that "significant progress" had been made on the TAPI project and that investor roadshows to raise funds are planned for November.
”The project's planned commissioning is 2020 and I think we are very much on target" he added.
Read the article online at: https://www.worldpipelines.com/project-news/17102016/tapi-pipeline-plans-move-forward/