Turkmenistan, India ink gas pipeline deal | business | Hindustan Times
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Turkmenistan, India ink gas pipeline deal

business Updated: May 23, 2012 23:09 IST

Kicking-off work on the long discussed US-backed Turkmenistan-Afghanistan-Pakistan-India gas pipeline, India and its new energy partners on Wednesday signed agreements that will pave way for laying of the 1,680-km line.

Turkmenistan — which holds more than 4% of the world’s natural gas reserves — signed the Gas Sales and Purchase Agreement (GSPA) to sell gas to India and Pakistan through the $7.6 billion pipeline at the Caspian Sea resort of Avaza.

The 1,680-km TAPI pipeline will have a capacity to carry 90 million cubic metres a day (mmcmd) gas for a 30-year period and will be operational in 2018.

Meanwhile, oil minister S Jaipal Reddy said country’s gas demand is estimated to rise to 473 mcmd in 2017 from 166.2 mcmd now.