TAPI shareholders sign investment agreement in Ashgabat

ASHGABAT, Turkmenistan – The shareholders of Turkmenistan-Afghanistan-Pakistan-India (TAPI) Pipeline Company Limited signed an investment agreement in Ashgabat on Friday. According to a statement issued by the Asian Development Bank, the ceremony was witnessed by petroleum ministers and senior government officials of Turkmenistan, Afghanistan, Pakistan, India and Asian Development Bank officials. The agreement would pave the way for delivery of long-term natural gas supplies to Pakistan by addressing its energy shortages. Speaking on the occasion, Minister of State for Petroleum and Natural Resources Jam Kamal Khan said TAPI will help bring 13.8 bln cubic meters of gas from Turkmenistan to Pakistan to meet the growing energy demand. He said it would boost Pakistan's energy security, bring economic benefits to our people through job opportunities, and upgrade the associated infrastructure. ADB's Central and West Asia Department Director General Sean O' Sullivan said the TAPI would unlock economic opportunities and diversify the energy market for Turkmenistan by enhancing energy security for the region. Once completed, TAPI pipeline would transport up to 33 billion cubic meters of natural gas annually from Turkmenistan to Pakistan, India and Afghanistan for the next 30 years.