- Asks Pakistani team to expedite its planning, subsequently its execution
- Turkmenistan President, PM Shehbaz witness signing of TAPI joint implementation plan
ISLAMABAD: Prime Minister Shehbaz Sharif stated on Thursday that the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline project will usher in an era of cooperation and regional prosperity.
During the signing ceremony of the TAPI joint implementation plan, the prime minister expressed his gratitude to Turkmenistan President Serdar Berdimuhamedow and his team, as well as the Pakistan Petroleum Minister Musadik Malik and his team, for their contributions to the project.
He explained the significance of TAPI, describing it as a crucial endeavor for the prosperity of the entire region, starting from Ashkabad and passing through Kabul, Islamabad, and then reaching India.
The prime minister highlighted that this project would enable the region to secure natural gas under mutually agreed terms and conditions, providing concrete assurances.
Acknowledging the challenges posed by the international energy landscape, the premier underscored the importance of imaginative policies and swift action to address these challenges, especially for developing countries like Pakistan.
The prime minister also expressed his unwavering belief that TAPI would usher in an era of cooperation and regional prosperity.
The 1,800-kilometre pipeline is expected to carry 33 billion cubic metres of natural gas every year from Turkmenistan’s Galkynysh — the world’s second-largest gas field — to the Indian city of Fazilka. It will pass through Herat and Kandahar, in Afghanistan, and Quetta and Multan.
The project has two phases: a free flow phase with an estimated cost of $5-6bn and installation of compressor stations for at least $1.9bn.
Highlighting the significance of energy for developing countries, he said: “We have to negotiate with this challenge through speedy action.”
The prime minister expressed confidence that the TAPI project would lead to an era of regional cooperation, development, and prosperity. He asked the Pakistani team to expedite its planning and subsequently its execution.
He mentioned that in view of the global situation, energy had become a real challenge. “For a developing country like Pakistan, there is a need for speedy actions to explore the options for energy.”
The prime minister directed his team to do all in their power to pace up the planning and execution of the TAPI project, adding that Pakistan and Turkmenistan were ready to expand relations in diverse areas and boost their cooperation.
Later, in a tweet, PM Shehbaz termed the TAPI Joint Implementation Plan “a step forward for the execution of the project”. He said the project was vital to meeting the country’s energy needs.
“Pakistan wants the project to be implemented at fastest speed. In view of costlier fuel prices and gas shortages globally, we are exploring all options to procure all forms of energy on a sustainable basis as part of a comprehensive national energy security plan,” the prime minister said.
He added that the completion of the TAPI project “will be a game-changer for the region in terms of enhanced economic cooperation.”
Rising dependence on imported fuel
Pakistan’s dependence on imported fuel has been increasing over time as domestic gas resources have fallen by as much as nine per cent per annum in recent years while the share of LNG has gone up.
Qatar has captured the Pakistani LNG market and has been looking for increasing its share through a joint venture partnership with an upcoming private sector LNG terminal.
In recent months, Pakistan faced a gas crisis due to higher reliance on LNG imports. Going forward, the country wants to diversify gas import sources.
