may 14, 2014 - China abandons Iran-Pakistan gas pipeline, eyes TAPI
Description:
In a strategic move, China has shelved a plan to be part of the Iran-Pakistan (IP) gas pipeline that faces the threat of US sanctions and has come up with an offer to join the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline to meet its growing energy needs.
Beijing plans to lay a pipeline under the TAPI project from Gwadar to China, which will turn Gwadar Port into an energy corridor, Pakistani Paktribune news agency reported on May 1.
Already, China has taken over operational control of Gwadar Port where it will establish an industrial city.
Pakistan and the three other participating countries are finalising tender documents for the TAPI pipeline in consultation with the Asian Development Bank that is playing the role of transaction adviser.
However, officials said progress had been very slow because of some unresolved issues between Turkmenistan and US companies including Chevron and ExxonMobil. Only that company will get the contract for laying the gas pipeline that has gas extraction contracts in Turkmenistan.
Turkmenistan does not offer exploration rights to foreign companies for its onshore fields. However, it has offered offshore exploration rights to Chevron and ExxonMobil, which could enter into swap arrangements for onshore fields.
https://en.trend.az/business/economy/2269503.html
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