ISLAMABAD - On the TAPI gas pipeline project, a sub-committee of the Economic Coordination Committee (ECC) on gas import projects on Friday authorised the Interstate Gas Systems (ISGS) of Pakistan to lock down the deal on the Gas Sale Purchase Agreement with Turkmenistan and called for early implementation.

The committee meeting was held in the committee room of the Ministry of Petroleum and Natural Resources under the chairmanship of Petroleum and Natural Resources Minister Dr Asim Hussain to discuss the matters relating to Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline project and Iran-Pakistan (IP) gas pipeline project. The committee meeting was attended by Nawab Aslam Raisani, Chief Minister Balochistan, Hina Rabbani Khar, Minister for Foreign Affairs, Mir Changez Khan Jamali, Minister for Science and Technology, Ghous Bux Khan Mahar, Minster for Privatization, Makhdoom Shahab-ud-Din, Minister for Textile Industry, and Dr Nadeem ul Haq, Deputy Chairman Planning Commission, among other members.

Sources in the petroleum ministry informed that in a bid to ensure that the Turkmenistan-Afghanistan-Pakistan-India (TAPI) Gas Pipeline Project does not remain a pipedream, a final round of negotiations will be held on May 24 2012 to ink the final agreement on GSPA with Turkmenistan and a unanimous transit fee of the project, adding, that the steering committee on TAPI would also meet in Turkmenistan. They told that the Iranian gas will cost $13 per mmbtu and Turkmen gas $11 per mmbtu, if the crude oil price is $100 per barrel.

Moreover, during the course of this meeting, while discussing matters relating to the Iran Pakistan (IP) gas pipeline project, the sub-committee expressed its satisfaction on overall progress of the project and resolved to implement the project as per agreed timelines. Further, the committee directed Ministry of Petroleum and ISGS to ensure all efforts for timely completion of the project.