India inks gas deal with Turkmenistan

Two neighboring nations those are in efforts to build bilateral relation more fair, now joining the line of trade by signed a joint agreement of a natural gas pipeline across Afghanistan.

On Wednesday, a plan to construct the Turkmenistan-Afghanistan-Pakistan-India ( TAPI) pipeline for supply of 38 million standard cubic meters per day of natural gas at about $11.5/unit has been passed by India through an agreement with Turkmenistan in Avaza, covering commercial terms for gas sales.

Oil minister Jaipal Reddy who is presently in Turkmenistan said in a statement, “While the GSPA (The gas sale and purchase agreement) could be construed by some as a mere contractual document, for us this particular GSPA is a triumph of multilateralism, regional cooperation and economic integration.”

TAPI pipeline would pass through the provinces of Herat and Kandahar, involving support of three countries- Turkmenistan, Pakistan and India- would be followed at a cost of $7.5 billion with help of best terms for gas sales of GSPA.

It is expected that within next five years, Indian natural gas sector is hit the growth of 19.5% per annum. “Our consumption of natural gas is expected to grow from the current 166.2 million standard cubic meters per day (mmscmd) to 473 mmscmd in 2017”, the minister further said via email.

As per information provided to media, India’s LNG re-gasification capacity is likely set to increase from 13.5 million tonne to 48 million tonne by 2017.

The beneficial plan of TAPI would facilitates both nations as fulfilling the energy needs of both, but with this scope of jobs in Afghanistan will rise and also financial support.

India, meanwhile, plans to balancing its gas line as LNG infrastructure on the one hand and expansion across the country on the other, is fully supported by United States officials.

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