"As a way forward, Turkmenistan suggested the formation of a SPV by the TAPI members. The SPV would take up the feasibility study and design work of the TAPI pipeline to meet the agreed timelines for the project, as well as search for a consortium lead," the statement said.

Pakistan and Afghanistan too have agreed to the formation of TAPI Ltd, it said. "GAIL has agreed to make an investment upto USD 5 million in the proposed SPV," the statement said. Based on an 'in-principle' approval of the Cabinet on May 18, 2006, India joined the Turkmenistan-Afghanistan-Pakistan (TAP) Project in April, 2008 and thereafter, the name of the project stood amended to Turkmenistan-Afghanistan-Pakistan- India (TAPl) Gas Pipeline Project. The 1,680 km pipeline will carry 90 million cubic metres a day (mmcmd) of gas and is scheduled to become operational in 2018. India and Pakistan will get 38 mmcmd each, while the remaining 14 mcmd will be supplied to Afghanistan. TAPI will carry gas from Turkmenistan's Galkynysh field, better known by its previous name South Yoiotan Osman that holds gas reserves of 16 trillion cubic feet. From the field, the pipeline will run to Herat and Kandahar province of Afghanistan, before entering Pakistan. In Pakistan, it will reach Multan via Quetta before ending at Fazilka (Punjab) in India. In all, the pipeline would travel 735-km in Afghanistan and another 800-km in Pakistan.