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Saudi Arabia May Support Financing TAPI Gas Pipeline

09 Apr 2019 Wadsam Afghanistan Business News

Local news sources from Saudi Arabia say that the country is

studying the issue of supporting financing for the Turkmenistan-Afghanistan-Pakistan-India

(TAPI) gas pipeline projects.

“Saudi Arabia’s support of gas exports from Turkmenistan to

India is the biggest shift in world trade of liquefied natural gas (LNG) for

India,” Saudi newspaper Al-Riyadh quotes Minister of Energy, Industry and

Mineral Resources of Saudia Arabia Khalid Al-Falih.

This comes as Saudi Arabia is promoting joint investments in

the countries of the Caspian region in the energy, oil, gas and mining sectors.

TAPI is an important linchpin in the realization of the New

Silk Road in the arena of energy where Afghanistan again plays a central role

in connecting energy-rich Central Asia to energy-deficient South Asia. The idea

of the USD 7.6bn (initial estimate of the cost) pipeline first originated in

1995 when the Turkmenistan and Pakistan leaders signed a Memorandum of

Understanding (MoU).

The project aims to export up to 33 billion cubic meters

(bcm) of natural gas per year through a proposed 1,800-kilomter pipeline from

the Dauletabad gas field in Turkmenistan along the highway through Herat,

Helmand and Kandahar in Afghanistan, to Quetta and Multan in Pakistan, and on

to Fazilka in India. The pipeline could become a recipe for long-term stability

in Afghanistan by generating revenue for the Afghan government and creating

jobs for Afghans in general.

The post Saudi Arabia May Support Financing TAPI Gas Pipeline appeared first on Wadsam.

Original Link: https://wadsam.com/afghan-business-news/saudi-arabia-may-support-financing-tapi-gas-pipeline/

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