TAPI gas sale deal likely by end-July: S Jaipal Reddy

The governments of Turkmenistan, Afghanistan, Pakistan and India have agreed to decide and sign by July 31 a United States-backed deal to purchase gas worth billions of dollars from reserves in Turkmenistan. Minister of Petroleum and Natural Gas S Jaipal Reddy in New Delhi on Thursday, said the pipeline, which is estimated to cost $7.6 billion, is expected to be completed by 2016 but added to say that the pricing is yet to be discussed. He hoped the terms of the Gas Sale and Purchase Agreement (GSPA) would be agreed upon within the stipulated time by the member nations.