Gas purchase deal inked with Ashgabat

KABUL-India TAPI Project, the foreign ministry said here on Saturday.

Held on July 9 in Ashgabat, the meeting was hosted and chaired by Turkmenistan’s Deputy Prime Minister Khojamukhamedov and attended by the ministers of petroleum and mines, ambassadors of member countries.

This contract was signed between Afghan Gas and Turkmen Gas companies and the Ministries of Mines and Petroleum of Afghanistan and Turkmenistan. The signing of this contract is a fundamental step toward implementing the project will address Afghanistan’s gas needs for the next 30 years.

Following the completion of this project, Afghanistan will purchase 500 million cubic metres of gas in the first 10 years, and 1bilion and 1.5 billion cubic metres annually in the second and third decades respectively.

The gas imported from Turkmenistan will be used for industries and power generation for homes and factories. The four countries, in cooperation with the Asian Development Bank, agreed to set up a joint consortium — TAPI Ltd — by the end of 2013 which will comprise of gas firms from member countries.

pr/mud

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