TAPI project: Pakistan, Turkmenistan sign GSPA accord

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AFP
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TAPI project: Pakistan, Turkmenistan sign GSPA accord
ISLAMABAD: Pakistan and Turkmenistan on Wednesday signed Gas Sales Purchase Agreement (GSPA) for Turkmenistan-Afghanistan-Pakistan-India (TAPI) Pipeline project at the Caspian Resort of Avaza, Turkmenistan.

Dr. Asim Hussain, Minister for Petroleum and Natural Resources is leading the Pakistani delegation, said a press release issued here.

Dr. Asim Hussain has termed this development as an important milestone and has said that this project will help in meeting the energy requirements of Pakistan in the longer run.

The TAPI GSPA is a thirty-year agreement whereby Turkmenistan
will supply 1.34 billion cubic feet per day (bcfd) of natural gas to Pakistan. TAPI project is scheduled to be completed by October 2017.

Earlier, GAIL (India) Limited signed the GSPA after agreeing to a transit fee during tripartite talks between Pakistan, Afghanistan and India last month.

Pakistan has also completed the negotiations on Transit Fee as agreed between Afghanistan and India.

Secretary Petroleum, Muhammad Ejaz Chaudhry said that the TAPI
Pipeline Project would provide the much needed natural gas to the country and would help Pakistan in enhancing economic growth of the country.

He further added that the project would also strengthen the relationship between the countries involved. (APP)