Islamabad, Nov 15(ANI): Pakistan has signed the Gas Sales Purchase Agreement (GSPA) with Turkmenistan, which will lead to the operationalisation of 7.6 billion dollar Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline.
Pakistan Petroleum and Natural Resources Minister Dr Asim Hussain apprised Turkmenistan President Gurbanguly Berdimuhamedov about Pakistan's viewpoint on the base price, transportation tariff, transit variability and risk sharing.
A senior energy manager confirmed that the imported natural gas from Turkmenistan and Iran would help the country meet around 70 percent of its shortfall.
A Petroleum Ministry official said under the GSPA, Pakistan was likely to pay 70 percent of crude oil price in international market, The Daily Times reports.
Under the agreement Afghanistan would receive 500 million cubic feet per day (mmcfd), Pakistan 1,325mmcfd, and India 1,325mmcfd.he official added that the pipeline's construction is likely to begin soon and would be completed by 2013-14.
The 1,680-km-long TAPI gas pipeline backed by the Asian Development Bank will bring 3.2 billion cubic feet of natural gas per day from Turkmenistan's gas fields to Multan, and end at Fazilka in India. (ANI)
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