TAPI gas pipeline stuck in a rut | business | Hindustan Times
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TAPI gas pipeline stuck in a rut

business Updated: Oct 16, 2012 22:55 IST
HT Correspondent

The $9 billion (around Rs 47,700 crore) US-backed gas pipeline project from Turkmenistan to India via Afghanistan and Pakistan — termed the “Peace Pipeline Project” for troubled South-Asia — is stuck.

No international pipeline company is willing to implement it unless Turkmenistan gives a share in the fields, top government officials said on Tuesday.

“International companies are unwilling to participate in the project unless given an interest in the upstream (oil and gas fields),” the official said after a meeting between India’s oil minister, S Jaipal Reddy and his Turkmenistan counterpart Kakageldy Abdullaev on the sidelines of the Petrotech conference here on Tuesday.

The member nations of the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline project recently held road shows in New York, London and Singapore to attract firms to lay and operate the 1,680-km cross-country project.