Abu Dhabi: The Turkmenistan-Afghanistan-Pakistan-India (TAPI) Pipeline project is in the final stages of securing its funding and final investment decisions can be made next year, a news source reported. This was stated by TAPI Pipeline Company Chief Executive Muhammetmyrat Amanov.
Amanov was speaking at a conference in Abu Dhabi. The project has been delayed for years and this is an important step forward for bringing gas from the energy-rick central Asia to some of the strongest growth markets of the region.
Amanov further said that the cost of the pipeline had been reduced to USD 7 billion down from USD 10 billion, while the first stage will cost just USD 5 billion. Afghanistan can begin receiving gas within a year of the final investment decision and Pakistan can start receiving gas in two years.
He said that the project has been supported by import/export credit agencies in Germany and Italy who are funding the exports of equipment for the project. Asian Development Bank and Islamic Development Bank may also finance the project.
