India joins TAP pipeline

NEW DELHI, April 25 (UPI) -- India has formally joined the Turkmenistan-Afghanistan-Pakistan pipeline project.

It will now be able to import more natural gas to fuel its fast-growing economy, the Economic Times reported. The project has now been officially renamed as the Turkmenistan-Afghanistan-Pakistan-India gas pipeline.

The project was started in 2002 with the idea that gas would be transported from Turkmenistan to the other three Asian nations. Gas is expected to flow to India by 2014 through the 1,680-kilometer pipeline, officials said, and the line is expected to supply about 90 million cubic meters of gas per day. A transportation tariff will be based on the cost of service method.

"The project will help promote energy security of the participating countries and strength regional cooperation," said Petroleum Minister Murli Deora, who represented India in the meetings with the other TAPI nations.

The decision came despite India and Pakistan not being able to resolve their differences over a similar project to transport natural gas from Iran through a pipeline.

During the meeting in Islamabad, an Intergovernmental Framework Agreement to facilitate implementation of the project was initiated by oil ministers of the four countries. According to the agreement, the pipeline will be executed by a consortium. The next meeting will be held in India.