Ed Sheeran weaves Persian music into new song, Azizam    Rain expected in Makkah and Jeddah on Saturday    Al-Jadaan: Crown Prince's directives confirm government's ability to bring back balance to real estate market    China retaliates against Trump's trade war with 34% reciprocal tariffs on US goods    Saudi Arabia condemns Israeli escalation, targeting of civilians and Saudi warehouse in Gaza    Danish PM dismisses US desire to annex Greenland 'You cannot annex another country'    Macron lashes out against Trump's 'brutal' tariffs, calls for a pause in investment    Saudi Crown Prince, Iranian president discuss regional developments in Eid phone call    Veteran Bollywood actor Manoj Kumar dies at 87    New Laws of Commercial Registration and Trade Names take effect on Thursday    New fleet of 76 public transport buses starts operation in Jeddah on Tuesday Environmentally friendly electric buses introduced for first time    Foreign investors are allowed to engage in real estate business outside Makkah and Madinah Commercial speculation should not be the purpose of real estate transaction    Aubameyang fires Al Qadsiah into King's Cup final with stoppage-time winner over Al Raed    Cristiano Ronaldo joins Fatal Fury: City of the Wolves    Musk's X is suing India, as Tesla and Starlink plan entry    Tesla sales plunge after backlash against Elon Musk    Swedish table tennis legend Jörgen Persson appointed head coach of Saudi national team    Danilo Pereira fires Al Ittihad into King's Cup final with dramatic stoppage-time double    Screen time in bed linked to insomnia, study finds    Mexico bans junk food in schools to fight childhood obesity epidemic    Sweet sales surge ahead of Eid as Saudi chocolate imports top 123 million kg in 2024    Bollywood actress vindicated over boyfriend's death after media hounding    Grand Mufti rules against posting prayers and preaching in mosques on social media    King Salman prays for peace and stability for Palestinians in Ramadan message King reaffirms Saudi Arabia's commitment to serving the Two Holy Mosques and pilgrims    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



India to formally join TAPI pipeline project next month
Published in Saudi Press Agency on 10 - 10 - 2007

India will formally join the US-backed Turkmenistan-Afghanistan-Pakistan gas pipeline project next month for importing natural gas from the Central Asian nation to meet its growing energy needs. Besides formally including India in the project, the Steering Committee meeting called by project sponsor Asian Development Bank (ADB) November 28-29 in Islamabad would also see the four nations signing Project Heads of Agreement and a Gas Pipeline Framework Agreement, PTI quoted official sources as saying.
Turkmenistan would make a presentation on gas reserves it has and volumes available for export to Afghanistan, Pakistan and India while the buyers would present their gas demands. Upon signing of the 'Heads of Agreement', the four partners would undertake project feasibility studies and device financial structure. According to the draft HoA, Turkmenistan has projected gas reserves of 159 Trillion cubic feet at its Dauletabad fields, off which 34.26 Tcf would be dedicated to the project. Pakistan wants to import 15 million standard cubic meters per day of gas through the pipeline in the first year, 30 mmscmd in the second and 45 mmscmd annually in the third year and onwards. Of the 45 mmscmd gas allocated for India and Afghanistan over the 30 year project life, Kabul would take 5 mmscmd in the first year that would be raised to 14 mmscmd by the fifth year. The meeting comes at a time when uncertainty surrounds the Iran-Pakistan-India pipeline project, which saw New Delhi not attending a recent trilateral official level talks in Tehran over unresolved transit issues with Islamabad. US is opposed to India and Pakistan importing natural gas from Iran through a 7-billion dollar pipeline and has been backing TAPI as an alternative to meet the growing energy needs of the two neighbours. Sources said the TAPI pipeline would be built by a consortium of national oil companies from the four nations by 2011-12. The draft Gas Pipeline Framework Agreement provides for payment of transit fee to Afghanistan and Pakistan for allowing usage of their territories for passage of the pipeline, on internationally accepted cost-of-service based tariff methodology. The two nations would be entitled to a transit fee based on the natural gas exiting their territories and not for the natural gas consumed, lost or disposed off within their territories. Sources said the draft agreement also provides that the four nations would not levy any direct or indirect taxes, royalties, value added tax, duties and other payments on activities of the consortium implementing the project and on the transportation and transit of natural gas. However, they would be free to tax the sale of gas in their respective territories.

Clic here to read the story from its source.