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TAPI gas pipeline: Investor roadshows next month

TAPI gas pipeline: Investor roadshows next month

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On
Oct 15, 2016 - 09:22

PESHAWAR (Pajhwok): Investor roadshows would be held next month for the long-delayed gas pipeline project from Turkmenistan to Pakistaninfo-icon and India via Afghanistaninfo-icon, an official said.

The $10 billion TAPI (Turkmenistan, Afghanistan, Pakistan and India) pipeline, involving the four countries’ energy companies, will carry 33 billion cubic metres (bcm) of gas a year.

But the ambitious project has been hamstrung by lack of funds and security concerns in Afghanistan. The funding shortage stems from the region’s complex geopolitics and contract disagreements.

Mobin Saulat, head of Pakistan’s Inter-State Gas Systems (ISGS), claimed there had been “significant progress” on the project. Investor roadshows to raise funds are slated for November.

He told reporters in Islamabad the roadshows would be organised in all major financial hubs. “The project’s planned commissioning is 2020 and I think we are very much on target.”

TAPI countries had put together a total of $4 billion for the pipeline, Saulat said, adding his firm had a 5 per cent stake in the 1,814-km pipeline project, parts of which may be funded by the Asian Development Bank.

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