December 12, 2010 2:50 PM

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$7.6 Billion TAPI gas pipeline project signed

The long-awaited agreement over 7.6 billion US dollar gas pipeline project between Turkmenistan, Afghanistan, Pakistan and India (TAPI) has been signed. The inter-governmental agreement and the Gas sales and purchase agreement were signed in Ashgabat, Turkmenistan yesterday. The documents were signed by Turkmenistan President Gurbanguly Berdimuhamedov, Afghan President Hamid Karzai, Pakistan President Asif Ali Zardari, Indian Petroleum Minister Murli Deora and President of the Asian Development Bank Haruhiko Kuroda. The 1,640 kilometere long 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 in Central Pakistan and end in the northwestern Indian town of Fazilka. Construction of the pipeline is likely to commence soon and will be completed by 2013-14.

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