facebook
twitter
rss
account
search
search
 

India embracing TAPI pipeline

March 29, 2012 at 7:59 AM   |   Comments

NEW DELHI, March 29 (UPI) -- Natural gas from Turkmenistan planned through a multilateral pipeline might be cheaper for India than liquefied natural gas contracts, authorities said.

Pakistan and Turkmenistan last year reached a draft deal that would increase plans by Ashgabat to deliver 1.1 trillion cubic feet of gas each year through the Turkmenistan-Afghanistan-Pakistan-Indian pipeline by about 2 billion cubic feet when it goes into service in the next few years.

Officials in New Delhi who spoke with The Economic Times of India on condition of anonymity said natural gas from Turkmenistan might be cheaper than long-term LNG contracts.

An official said New Delhi has reached "an understanding" with Turkmenistan over the price of natural gas for TAPI.

"The gas price will soon be placed before the Cabinet for its approval," one government official, who attended a gas summit in New Delhi last week, told the news service. "It will pave way for India signing a gas sale purchase agreement with Turkmenistan."

The newspaper adds that New Delhi aims to import as much as 1.3 billion cubic feet from Turkmenistan. The four partners could form a TAPI consortium next year with the goal of starting pipeline operations by 2016.

TAPI is favored by some governments over a rival plan put forward by Iran.

© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Apple sells 10 million new iPhones during the first weekend Apple sells 10 million new iPhones during the first weekend
2
Starbucks testing a latte that tastes like beer Starbucks testing a latte that tastes like beer
3
Iran could retool pipeline for Pakistan Iran could retool pipeline for Pakistan
4
Iraq relying on oil wealth from Basra Iraq relying on oil wealth from Basra
5
Greenpeace puts more pressure on LEGO Greenpeace puts more pressure on LEGO
Trending News
Video
x
Feedback