Government of Turkmenistan has allocated more than $45 million to finance the initial phase of construction of the TAPI gas pipeline at the Afghan-Pakistan segment.
A decree was signed by President Gurbanguly Berdimuhamedov on June 3 during a cabinet meeting, the government said in a statement. Currently, welding of pipes is in progress in Turkmenistan. The 214 kilometer Turkmen section is planned to be complete by the end of 2018.
The $45 million allocated by Ashgabat is in accordance with an investment agreement signed by TAPI countries earlier this year. In April, Turkmenistan, Afghanistan, Pakistan and India (TAPI) agreed to invest $200 million in the next stage of the multibillion dollar TAPI pipeline project. The agreement was signed during 24th meeting of the steering committee of the TAPI pipeline project which was held in Ashgabat.
Turkmengaz and Turkmennebitgazgurlushyk are undertaking construction of the Turkmen section of the pipeline which will run from Galkynysh gas field to the Afghan border. In Afghanistan and Pakistan contractors will be chosen on the basis of international tenders.
In recent weeks, Turkemnistan has held talks regarding financing of the project with international agencies such as Islamic Development bank, the Saudi Fund for Development and the Japanese government. These international entities are expected to participate in areas of trade, supply equipment, financing through provision of loans and investment in the TAPI project and in development of the Galkynysh gas field.
ADB was appointed the transaction advisor for the TAPI gas pipeline project in November 2013.
The TAPI pipeline will export up to 33 billion cubic meters of natural gas a year from Turkmenistan to Afghanistan, Pakistan, and India over 30 years.
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