Photonews Logo Photonews logo
  • Home
  • Pakistan
    • Punjab
    • Sindh
    • Khyber Pakhtunkhwa
    • Azad Jammu Kashmir
    • Balochistan
    • Gilgit – Baltistan
  • World
  • Business
  • Entertainment
  • Videos
    Good Fortune trailer
    Videos

    First Trailer for Aziz Ansari’s Good Fortune, Starring Keanu Reeves

    May 29, 2025 2 Min Read
    Last of Us Season 2
    Videos

    ‘The Last of Us’ Season 2 Premieres Date What to Expect From HBO’s Hit Series

    April 13, 2025 2 Min Read
    Disney Snow White box office
    Videos

    Snow White Teaser Drops: Gal Gadot and Rachel Zegler Shine

    February 22, 2025 1 Min Read
  • Sports
  • Technology
  • Offbeat
  • Blog
  • Contact
Reading: Work on TAPI pipeline to begin in December
PhotoNews Pakistan PhotoNews Pakistan
Font ResizerAa
Search
  • Home
  • Pakistan
    • Punjab
    • Sindh
    • Khyber Pakhtunkhwa
    • Balochistan
    • Azad Jammu Kashmir
    • Gilgit – Baltistan
  • World
  • Business
  • Entertainment
  • Videos
  • Sports
  • Technology
  • Offbeat
  • Blog
  • Contact
Have an existing account? Sign In
Follow US
© 2022 Photonews. All Rights Reserved.
PhotoNews Pakistan > Business > Work on TAPI pipeline to begin in December
Business

Work on TAPI pipeline to begin in December

Web Desk
By Web Desk Published August 21, 2015 5 Min Read
Share
SHARE

Federal Minister of Petroleum and Natural Resources Shahid Khaqan Abbasi has announced that heads of Pakistan, Afghanistan, India and Turkmenistan will inaugurate a multibillion-dollar transnational gas pipeline project in December this year.

The project, called Tapi pipeline, would be inaugurated on December 25 and would be completed in the next three to four years, said Abbasi while speaking at a press conference along with State Minister of Petroleum Mir Jam Kamal Khan here on Thursday.

He said Afghanistan would be the net beneficiary as it would earn $500 to $600 million in royalty on the shipment of gas through its territory.

The pipeline will run along a highway built in Afghanistan and a special security system will be installed to raise alarm before any incident to ensure the security of infrastructure.

“It is believed that $25 billion will be spent on the upstream and downstream sections of the pipeline,” the minister said.

Upstream development will cost around $15 billion whereas the downstream section will cost $10 billion. Work on both will start simultaneously.

In the last meeting of the Tapi steering committee in Ashgabat, the stakeholders decided that a state-owned company of Turkmenistan would lead a consortium to oversee coordination in the construction, financing, ownership and operation of the 1,800km-long pipeline.

According to the agreement, Pakistan, India and Afghanistan will have 5% obligatory shares in the project, while the Turkmen company, being the lead financier, will have a 51% stake. The remaining 34% will be available to other partner countries.

“We will receive 1.32 billion cubic feet of gas per day, which accounts for 35% of our total production,” Abbasi said, adding the government had collected Rs85 billion in gas infrastructure development cess, which would be spent on the pipeline.

Emphasising the importance of meeting energy needs, the minister said Pakistan would not only complete the Tapi pipeline, but work on the Iran-Pakistan (IP) gas pipeline and more liquefied natural gas (LNG) terminals in Karachi and Gwadar was also under consideration.

China is also constructing a gas pipeline in Pakistan while negotiations are under way with Russia for laying another pipeline at a cost of $2.5 billion.

If the Tapi project was completed on time, the stakeholders would seriously consider building another pipeline from Turkmenistan, the minister said.

Replying to a query, he revealed that a Qatari delegation would arrive on August 24 to talk about LNG supply in a government-to-government arrangement.

A tender was floated for spot purchase of LNG, but no response was received and the only solution was LNG import through a long-term contract with Qatar, he stressed.

Speaking about prices, the minister said prices for LNG, IP and Tapi gas were at the same level when seen in the context of current crude oil prices.

IP pipeline

Abbasi voiced hope that the stalled IP pipeline project could be implemented now as sanctions against Iran were being lifted. In this regard, an LNG pipeline is being laid in Gwadar.

In reply to a question, he said oil price hedging was possible but local oil rates would go up. “People come to us for oil price hedging, but it may lead to a rise in local oil prices.”

The price of diesel and petrol in Pakistan was cheaper by Rs35 per litre compared to prices in India, the minister said.

Gas prices

Abbasi announced that the government had decided to notify 5% to 6% increase in consumer gas prices, which would come into effect from September 1. However, the price increase would not be passed on to domestic consumers.

Share This Article
Facebook Twitter Pinterest Whatsapp Whatsapp LinkedIn Email Copy Link Print
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

Karpil Sharma Season 3

Navjot Singh Sidhu Rejoins Kapil Sharma for Great Indian Kapil Show Season 3

crypto market bitcoin ethereum june 2025

Crypto Market : Bitcoin at $105K, Ethereum Dips Amid Trump-Musk Feud

Housefull 5 box office

Housefull 5 Box Office Day 3 Nears ₹100 Crore in India

Bianca Censori business

Bianca Censori Launches Solo Business Ventures in Beauty Industry

iOS 26 Liquid Glass

iOS 26 to Introduce “Liquid Glass” UI, Paving Way for 2027 iPhone Redesign

Post Archives

More Popular from Photonews

MD Forecasts Heatwave in Southern Pakistan
Pakistan

PMD Issues Severe Heatwave Warning for Pakistan During Eid-ul-Adha 2025

2 Min Read
burj khalifa
Offbeat

Dubai’s Next Mega-Project Could Surpass Burj Khalifa

2 Min Read
Marnus Labuschagne Opening for Australia
Sports

Marnus Labuschagne Eyes Australia’s Test Opener Role in WTC Final 2025

3 Min Read
Tech

Garena Free Fire Max Redeem Codes: Are They Worth the Hype in 2025?

On June 6, 2025, the search term “Garena Free Fire Max redeem codes today” continues to…

June 6, 2025
Pakistan

Pakistan Celebrates Eid-ul-Adha 2025 with Zeal

Pakistan celebrated Eid-ul-Adha with profound religious zeal, commemorating the supreme sacrifice of Hazrat Ibrahim (AS) and…

June 7, 2025
Pakistan

Taptap Send Enables Pakistani Expats to Donate Directly to Charities

On June 8, 2025, Taptap Send, a leading mobile remittance platform, launched a feature allowing Pakistani…

June 8, 2025
World

Antoine Massey, $50K Fugitive, Denies Escape in Viral Instagram Video

On June 1, 2025, Antoine Massey, one of two fugitives still at large after the May…

June 3, 2025
PhotoNews Pakistan

Always Stay Up to Date

Subscribe to our newsletter to get our newest articles instantly!

Categories

  • World
  • Pakistan
  • Punjab
  • Sindh
  • Khyber Pakhtunkhwa
  • Balochistan
  • Azad Jammu Kashmir

 

  • Top News
  • Business
  • Entertainment
  • Sports
  • Videos
  • Tech
  • Offbeat
  • Blog

© 2024 Phototnews
All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?