PSU NEWS
GAIL form SPV for TAPI pipeline project
MUMBAI: GAIL (India), along with state gas companies of Turkmenistan, Afghanistan and Pakistan has set up a company that will build, own and operate 1,800-kilometer of gas pipeline across Turkmenistan-Afghanistan-Pakistan-India (TAPI).
The company has been incorporated as a Special Purpose Vehicle in the Isle of Man, a British Crown dependency and has been named TAPI Pipeline Company. It would be responsible for finance, design, construction, operation and maintenance of the TAPI pipeline. Turkmenistan's national gas company Turkmengas, Afghan Gas Enterprise, Inter State Gas Systems (Private) and GAIL will own equal stake in TAPI Pipeline Company.
The TAPI pipeline will export up to 33 billion cubic meters of natural gas a year from Turkmenistan to Afghanistan, Pakistan, and India over 30 years.
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