TAPI pipeline breaks ground
Leaders of Turkmenistan, Afghanistan, Pakistan, and India broke ground yesterday in a special ceremony for a $10 billion gas pipeline project. The 1,800-km-long pipeline is being constructed to ease energy deficits in South Asia and freeze tensions in the conflicted region. The annual capacity of the pipeline will be 33 billion cubic metres, and it is planned to start functioning by the end of 2018.
It is important to note that several major energy companies from the West are out of the project. Total, Exxon-Mobil, and Chevron will not follow this project. Only the Dubai-based Dragon Oil, which works in Turkmenistan's petroleum sector, will invest in the project that was confirmed in November. Turkmengas owns an 85% stake in the project. Afghanistan, Pakistan and India own 5% each.