GAIL to take max 10% stake in TAPI pipeline: Report
The work on TAPI pipeline is yet to commence as the four member nations have not yet found any major global company which could construct and operate the pipeline.
Gail India will reportedly buy a maximum stake of 10% in the US$10bn Turkmenistan-Afghanistan-Pakistan-India (TAPI) natural gas pipeline, considering the risk associated with the project.
Turkmenistan’s state-owned TurkmenGaz will be the leader of the consortium and will buy a minimum 51% stake while India will be represented by GAIL India, according to a top government official.
Gail India feels that the TAPI project has inherent security and geo-political risks, and therefore it wants to cut its risks by restricting it stake to 10%, the official has been quoted as saying.
The work on TAPI pipeline is yet to commence as the four member nations have not yet found any major global company which could construct and operate the pipeline.
The TAPI pipeline will have a capacity to carry 90 million standard cubic metres a day (mmscmd) gas for 30 years and is planned to become operational in 2018.
