“Turkmengas Company was earlier scheduled to achieve financial close of the mega project by December 2016, but now it is supposed to attain it in June 2017. This has actually delayed the commissioning of the project till 2020,” a top official of the Ministry of Petroleum and Natural Resources told The News.
When contacted, managing director of the Inter-State Gas System confirmed it and said the project will now come on stream in 2020. He, however, refused to divulge more details. According to the officials of the ministry, the Turkmengas Company, being the consortium leader for TAPI project, is to contribute up to 85 percent of equity, and the rest of TAPI members namely Afghanistan, Pakistan and India would take 5 percent each equity share in the project company. From the Gylkynish and adjacent gas fields in Turkmenistan, the gas will be imported to Afghanistan, Pakistan and India.
