TAPI gas project: Turkmenistan, Pakistan agree to end financial closure in early 2020

Turkmenistan and Pakistan have agreed to conclude the financial closure of Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline project in early 2020, an official of Petroleum Division told Business Recorder. He referred to a recent meeting held between a high-level delegation from Turkmenistan and Federal Minister for Energy Omar Ayub Khan in Islamabad to discuss the way forward of the project.
The Turkmen delegation comprised Muhammetmyrat Amanov, chairman Board of Directors of TAPI Pipeline Company, Ambassador of Turkmenistan Atadjan Movlamov and Batyr Berdiyev, manager TPCL (Pakistan Branch). The Turkmen delegation highlighted the significant progress achieved on the financing and procurement of the multibillion dollar pipeline and stressed its determination to conclude the financial closure of the project in early 2020.
The beginning of construction work on the project in Pakistan is expected in the next month. The TAPI Company has short-listed some companies including prominent European companies for building the pipeline. The TAPI Company is working on the TAPI gas pipeline project. Groundbreaking of the project has taken place in Turkmenistan and Afghanistan. Work on the pipeline is underway in Turkmenistan and civil works on some points have also been started in Afghanistan.
Turkmenistan arranged some funds from the Asian Development Bank (ADB) and the Islamic Development Bank (IDB). Some of the financing will be arranged by the foreign firms on the supplier credit basis. "Pipelines are considered strategic projects in Pakistan for ensuring energy security," remarked an official of Inter State Gas Systems (ISGS) mandated to execute the project.