Turkmenistan secures $700m from IDB for TAPI pipeline to India

TAPITAPI: Turkmenistan has secured a $700m loan from the Islamic Development Bank to lay the long-awaited TAPI pipeline from its giant Galkynysh gas field to India via Afghanistan and Pakistan, it announced last week.
On completion, the $10bn pipeline will have the capacity to carry 33 bcm a year from Gaskynish to the Indian sub-continent and is intended to ease Turkmenistan’s dependence on Russia and China as export markets for its hydrocarbons. It is to use the 15-year IDB loan to finance construction work and equipment purchases, the country’s state news agency said.
TalebanTurkmenistan and Pakistan signed an MoU for the construction of the pipeline as far back as 1995, but concerns about security in Afghanistan – where Taliban insurgents have intermittently controlled swathes of the territory earmarked for the pipeline’s route – have led to lengthy delays in securing the requisite finance; on Friday, however, the head of Pakistan’s state-owned Inter State Gas Systems Mobin Saulat, told Reuters that “significant progress” had been made and that investor roadshows were being planned “in all the major financial hubs,” for November. 

Source: AKIpress