ADB to Raise $7.5 bn for TAPI Pipeline

Turkmenistan, Afghanistan, Pakistan and India and Asian Development Bank (ADB) are expected to ink a deal to raise over $7.5 billion from leading investors for financing the TAPI gas pipeline.

According to sources, this development is expected to take place in meetings of the steering committee and the working group on the gas pipeline project in Ashgabat, Turkmenistan on July 2-3, Pakistan Tribune has reported.  

Earlier, the deliberations were scheduled to be held on June 17-19, but were put off in the wake of transition of power to a new government in Pakistan.

Washington has been pushing Islamabad to go ahead with the Turkmenistan-Afghanistan-Pakistan-India (TAPI) pipeline and shelve the Iran-Pakistan (IP) pipeline project due to a standoff with Tehran, the newspaper reported.

Under the original project plan, Pakistan will get 1.365 billion cubic feet of gas per day (bcfd) from Turkmenistan, India will also receive the same 1.365 bcfd and Afghanistan will get 0.5 bcfd.

Turkmenistan will export up to 33 billion cubic metres of natural gas per year through a 1,800km pipeline that will start from Turkmenistan and reach India after passing through Afghanistan and Pakistan.