Turkmenistan woos ECAs for transadriatic pipeline

(Azernews, New York, 28 July 2018) A presentation titled “Turkmenistan-Afghanistan-Pakistan-India (TAPI) Gas Pipeline: A new energy Great Silk Road to provide access to reliable, sustainable and modern energy for all” was organized at the headquarters of the United Nations Development Program (UNDP) in New York with the assistance of the diplomatic missions of Afghanistan, Pakistan and India. “Turkmenistan views this gas pipeline as a new energy Silk Road that will connect the regions of Central Asia and South Asia," said Aksoltan Atayeva, Turkmen ambassador to the UN. A road show on financing issues is planned in July to promote the TAPI gas pipeline project and hold negotiations. Several meetings have already been held with a number of export credit agencies (including SACE, Hermes and ECIO), which expressed support for the project. In other news, the TAP project has so far secured €1.5 ($1.74) billion in loans from the European Investment Bank (EIB), and further contributions from the export credit agencies of France, Germany and Italy are currently under consideration. The pipeline is owned by BP (20%), SOCAR (20%), Snam (20%), Fluxys (19%), Enagas (16%) and Axpo (5%).