Pakistan, Turkmen Gas-Sale-Purchase Agreement signed

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Pakistan, Turkmen Gas-Sale-Purchase Agreement signed

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Pakistan and Turkmenistan have inked Gas Sale Purchase Agreement (GSPA) for (TAPI) gas pipeline.

14 November,2011 09:41 pm

The Turkmen President is on state visit to Pakistan and Governments of Pakistan and Turkmenistan have initialed Monday Gas Sale Purchase Agreement (GSPA) for proposed Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline.Federal Minister for Petroleum & Natural Resources Dr. Asim Hussain called on the President of Turkmenistan Mr. Gurbanguly Berdimuhamedov here in Islamabad Monday. Secretary Petroleum Muhammad Ejaz Chaudhry was also present on the occasion.Turkmenistan would provide 3.2 billion cubic feet of Natural Gas per day (BCFD) from the South Yolotan / Osman and adjacent gas fields through a pipeline.The initial feasibility study of the project was conducted in 2004. The momentum on TAPI project negotiations picked up after mid 2010 and in December 2010 Inter Governmental Agreement (IGA), Gas Pipeline Framework Agreement (GPFA) and Heads of Agreement (HOA) were signed in Turkmenistan. Several rounds of bilateral negotiations were held between Turkmenistan and Pakistan on TAPI Gas price ending in October, 2011.Federal Minister apprised the Turkmen President regarding Pakistan’s view point on base price, transportation tariff, transit variability and risk sharing.