You are here: Home » Reuters » News
Business Standard

Turkmenistan borrows $700 mln for TAPI pipeline - state news agency

Reuters  |  ASHGABAT 

ASHGABAT (Reuters) - has borrowed $700 million from the Islamic Development Bank (IDB) to finance the construction of a natural gas through to and India, the country's official news agency said on Friday.

The $10 billion TAPI (Turkmenistan, Afghanistan, and India) pipeline, originating at the giant Galkynysh gas field in would carry 33 billion cubic metres (bcm) of gas a year.

Turkmenistan, which sits on the world's fourth-largest gas reserves, last December started building its section of the pipeline, designed to ease its dependence on Russia and China, but the three other countries have yet to begin work.

Difficulties in obtaining financing for the project and concerns about security in Afghanistan, where Islamist Taliban insurgents control swathes of the territory earmarked as the route, have led to lengthy delays.

will use the 15-year IDB loan to finance construction work and equipment purchases, the country's state news agency said.

Separately, a Pakistani official involved in the project told Reuters on Friday TAPI was in the final stages of financing, and investor roadshows were due to be held next month.

(Reporting by Marat Gurt; Writing by Olzhas Auyezov. Editing by Jane Merriman)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

RECOMMENDED FOR YOU

Turkmenistan borrows $700 mln for TAPI pipeline - state news agency

ASHGABAT (Reuters) - Turkmenistan has borrowed $700 million from the Islamic Development Bank (IDB) to finance the construction of a natural gas pipeline through Afghanistan to Pakistan and India, the country's official news agency said on Friday.

ASHGABAT (Reuters) - has borrowed $700 million from the Islamic Development Bank (IDB) to finance the construction of a natural gas through to and India, the country's official news agency said on Friday.

The $10 billion TAPI (Turkmenistan, Afghanistan, and India) pipeline, originating at the giant Galkynysh gas field in would carry 33 billion cubic metres (bcm) of gas a year.

Turkmenistan, which sits on the world's fourth-largest gas reserves, last December started building its section of the pipeline, designed to ease its dependence on Russia and China, but the three other countries have yet to begin work.

Difficulties in obtaining financing for the project and concerns about security in Afghanistan, where Islamist Taliban insurgents control swathes of the territory earmarked as the route, have led to lengthy delays.

will use the 15-year IDB loan to finance construction work and equipment purchases, the country's state news agency said.

Separately, a Pakistani official involved in the project told Reuters on Friday TAPI was in the final stages of financing, and investor roadshows were due to be held next month.

(Reporting by Marat Gurt; Writing by Olzhas Auyezov. Editing by Jane Merriman)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Turkmenistan borrows $700 mln for TAPI pipeline - state news agency

ASHGABAT (Reuters) - has borrowed $700 million from the Islamic Development Bank (IDB) to finance the construction of a natural gas through to and India, the country's official news agency said on Friday.

The $10 billion TAPI (Turkmenistan, Afghanistan, and India) pipeline, originating at the giant Galkynysh gas field in would carry 33 billion cubic metres (bcm) of gas a year.

Turkmenistan, which sits on the world's fourth-largest gas reserves, last December started building its section of the pipeline, designed to ease its dependence on Russia and China, but the three other countries have yet to begin work.

Difficulties in obtaining financing for the project and concerns about security in Afghanistan, where Islamist Taliban insurgents control swathes of the territory earmarked as the route, have led to lengthy delays.

will use the 15-year IDB loan to finance construction work and equipment purchases, the country's state news agency said.

Separately, a Pakistani official involved in the project told Reuters on Friday TAPI was in the final stages of financing, and investor roadshows were due to be held next month.

(Reporting by Marat Gurt; Writing by Olzhas Auyezov. Editing by Jane Merriman)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard