Islamabad, May 21, 2012 (PPI-OT): While congratulating the people of Turkmenistan, Afghanistan, Pakistan and India and applauding the efforts of the union cabinet of India in clearing the $7.6 billion gas pipeline project. Vikramjit Sahney, President, SAARC Chamber of Commerce and Industry drew a lot of satisfaction on buoyant attitude of all governments concerned in their resolve to complete and implement the project in record time.
Vikramjit stated that the TAPI pipeline offers benefit to all four participating countries and has the potential to enhance regional cooperation. Turkmenistan, which currently exports gas only to Russia, will have alternatives for exporting its energy recourses, Pakistan and India will be able to use Turkmen gas to address to their current energy deficits. In addition, the potential extension of the TAPI pipeline towards Pakistan’s port at Gwadar would enable the Pakistani government to export gas and generate added revenues.
“Regionally, the planning, execution and operation of the TAPI pipeline will provide new business opportunities for the gas and engineering industry” said President SAARC CCI and added that it would foster regional connectivity amongst three important member nations of South Asia i.e. Afghanistan, India and Pakistan. Turkmenistan would make available a great amount if natural gas each year to Pakistan.
This gas would be sold at a price which is based on the prevailing price of crude oil at the time. Afghan government would further benefit by transit fees it earns on the project when implemented. Pakistan and India would benefit best interim of getting 38 million standard cubic meters per day of gas each.
All in all TAPI pipeline poses significant potential for improving energy security across South Asia, for providing the transit governments with a new source of revenue and for furthering regional integration. All the four countries involved have the will to realize the project overcoming challenges related to pricing, gas certification, technical capacity, funding and security, which have previously held up progress on this critical piece of energy infrastructure.
For more information, contact:
SAARC Chamber Of Commerce and Industry
Apex Business Organization of SAARC
House No. 397, Street 64, I-8/3, Islamabad- Pakistan
Tel: +9251 486 0611 -3, 831 6023
Fax: +9251 831 6024