Turkmenistan urged to allow foreign investment in TAPI pipeline

US Deputy Assistant Secretary for Central Asia Daniel Rosenblum

US Deputy Assistant Secretary for Central Asia Daniel Rosenblum

TAPI: Turkmenistan should consider easing its rules on foreign investment in natural gas as it looks to develop the world’s fourth largest reserves amid rising competition, the US Deputy Assistant Secretary for Central Asia Daniel Rosenblum has told a conference in the capital Ashgabat, as the country moves ahead with the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline.
“Land-locked countries with potentially large resources, such as Turkmenistan, need to move expeditiously to capture market opportunities since their competitors are not idle,” he said, adding that it faced particularly stiff competition from LNG suppliers such as Qatar that can deliver gas by sea.
“A critical element of success is to create the right mix of incentives. Hesitation or delay might mean that potential buyers could find other solutions to meet their energy needs.”
Oil giants such as Chevron, ExxonMobil, BP and Total have long expressed an interest in the TAPI project. But a lack of access to Turkmen gas deposits and other concerns, such as security, have prevented any of them from getting involved. The only company known to be in talks on TAPI currently is Dubai-based Dragon Oil which produces oil off Turkmenistan’s Caspian coast.

Source: AKIpress