Islamic Development Bank invited to invest in TAPI pipeline project

IDB President Ahmed Mohamed Ali Al Madani

IDB President Ahmed Mohamed Ali Al Madani

The Islamic Development Bank (IDB) was this weekend invited to invest in the 1,735km TAPI pipeline project by Turkemenistan’s President Gurbanguly Berdimuhammadov after its own President Ahmad Mohamed Ali Al Madani arrived in Ashgabat for the country’s Neutrality Day celebrations last Saturday,
The TAPI pipeline will eventually transport 33 bcm of gas each from Turkemenistan’s giant Galknysh gas field – the second largest in the world after Iran’s South Pars – through Afghanistan and Pakistan to the Indian border at a final cost estimated to be around $10bn. The IDB has already financed the Kazakhstan-Turkmenistan-Iran railway line.

Galkynish ground breaking ceremony

Galkynish ground breaking ceremony

The day following the celebrations, Berdimuhammadov was joined by Afghan President Ashraf Ghani,Pakistan’s Prime Minister Nawaz Sharif and India’s Vice President MohammadHamid Ansari for a ceremony to kick off work on the third development phase of the Galkynysh field. Total reserves at Galkynysh stand at 21.2 trillion cubic metres, while the latest estimates of Turkmenistan’s total reserves are put them at 50.34 trillion cubic metres. 

Source: TREND