Pakistan on Saturday joined Turkmenistan, Afghanistan and India in signing the long-awaited over $7.6 billion gas pipeline project to help it meet its sharply rising industrial and domestic demands.
The inter-governmental agreement (IGA) was signed by President Asif Ali Zardari, Afghan President Hamid Karzai, Turkmen President Gurbanguly Berdimuhamedov and Indian Petroleum Minister Murli Deora, almost 15 years after the project was envisioned. Indian Prime Minister Manmohan Singh could not attend the summit as he was away to attend the India-EU summit at Brussels.
The Gas Pipeline Framework Agreement (GPFA) had been signed by the petroleum ministers of their respective countries with Syed Naveed Qamar representing Pakistan.
The 1,680 kilometre long Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline, backed by the Asian Development Bank, would bring 3.2 billion cubic feet of natural gas per day (bcfd) from Turkmenistan’s gas fields to Multan in central Pakistan and end in the northwestern Indian town of Fazilka. Under the IGA, the four nations would commit to provide government support, including security for the pipeline.
The construction of the pipeline is likely to commence soon and would be completed by 2013-14. The project would help overcome Pakistan’s growing energy crisis that has caused electricity shortage and protests across the country.
President Asif Ali Zardari, in a statement to reporters, said gas connectivity through the project would add to regional prosperity by increasing synergies of economies, and would reinforce the institutional framework for expanding cooperation with each other. The president said Pakistan was an energy deficient country and welcomed its partnership in the project, adding that Pakistan’s keenness for successful implementation of TAPI was evident of its quest for shared prosperity and economic development.
He said Turkmenistan’s policy of permanent neutrality had ensured focus on economic development. He said it had enabled it to enter into a strategic energy partnership with its South Asian neighbours.
Zardari said the gas pipeline project would also bring economic dividends for Turkmenistan and contribute to the impressive pace of development under the visionary leadership of its president, Berdimuhammedov.
Meanwhile, addressing the summit to ink the historic agreement, Zardari assured of complete security and full support to the multi-billion-dollar project, and said it would change the development paradigm of the entire region.
“We shall work together to bring this project to early fruition,” he said.
“This resource-rich region can complement the economies of our countries,” Zardari said and added trans-regional development cooperation held the critical key to promoting durable stability and economic development in the region.
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