IDB, Saudi Arabia, Japan interested in TAPI financing
Thursday, May 26The Islamic Development Bank (IDB), the Saudi Fund for Development and the Japanese government have expressed interest in financing construction of the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline, the head of the TAPI Pipeline Company consortium Muhammetmyrat Amanov said, the Ministry of Oil and Gas of Turkmenistan reported May 25.
The IDB is ready to finance construction of the pipeline in Turkmenistan as well as in Afghanistan and Pakistan, he said.
The final appraisal of the project costs is currently underway.
It was earlier reported that three main areas for participation by foreign partners in the project were examined: trade, particularly supply of pipe and gas equipment; financing through provision of loans; and investment in the TAPI project and in development of the big Galkynysh gas field in Turkmenistan.
Turkmengaz and Turkmenneftegazstroy are leading construction of the 214-kilometer pipeline segment in Turkmenistan, from the Galkynysh field to the Afghan border.
The contractors for construction of the pipeline segments in Afghanistan and Pakistan will be chosen in international tenders.
The main document for the TAPI, called the Ashgabat Interstate Agreement, was signed in 2010.
The groundbreaking ceremony for TAPI's Turkmen section was held in mid-December of 2015.
The estimated cost of the project will exceed $10 billion. The annual capacity of the gas pipeline will reach 33 billion cubic meters. It is planned that the total length of the TAPI pipeline will be 1,814 kilometers. Some 214 kilometers will pass through the territory of Turkmenistan, 774 kilometers - Afghanistan, 826 kilometers - Pakistan.
The project is expected to be completed in late 2019. (Trend.az)