The gas sales purchase agreements were initialed by the Turkmen President Gurbanguly Berdimuhamedov and the Pakistani Federal Minister for Petroleum and Natural Resources Dr Asim Hussain in Islamabad. Pakistani Secretary Petroleum Muhammad Ejaz Chaudhry was also present on the occasion.
Under the agreement, Turkmenistan will provide 3.2 Bcf/d of natural gas from the South Yolotan/Osman and adjacent gas fields through a pipeline.
During the visit, Dr Hussain also discussed Pakistan’s view on base price, transportation tariff, transit variability and risk sharing with Mr Berdimuhamedov.
The proposed 1,680 km Turkmenistan – Afghanistan – Pakistan – India (TAPI) Pipeline project would transport gas from Turkmenistan’s gas fields, through Afghanistan, to Multan in Pakistan, and on to the Indian township of Fazilka. Estimated to cost more than $US3 billion, the pipeline would have a total transmission capacity of 90 MMcm/d of gas.
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The initial feasibility study of the TAPI Pipeline was conducted in 2004. The momentum on TAPI project negotiations picked up after mid-2010 and in December 2010, an intergovernmental agreement, gas pipeline framework agreement and Heads of Agreement were signed in Turkmenistan. Several rounds of bilateral negotiations were held between Turkmenistan and Pakistan on the TAPI gas price, which ended in October 2011.
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