TAPI pipeline project will be funded bilaterally

Minister says govt seeking sanctions waiver for import of gas from Iran

ISLAMABAD:

 

Pakistan and Turkmenistan would provide the lending for the multibillion-dollar TAPI pipeline project in the absence of foreign funding because of international community’s refusal to recognize the government in Afghanistan, Petroleum Minister Dr Musadik Malik revealed on Wednesday.

Addressing Pakistan’s Energy Symposium, Malik stressed that Pakistan was working on the TAPI – Turkmenistan-Afghanistan-Pakistan-India – framework. He said that there was a suggestion for an LNG train to transport Turkmen gas to Europe.

“Turkmenistan is a landlocked country with substantial gas reserves, but currently China is its only buyer,” he said, adding that an Idea had been floated for exporting Turkmen gas to Europe via an LNG train. “The gas will flow through the pipeline to Pakistan, and it will be transported to Europe by train.”

Read Turkmenistan concerned over delay in TAPI pipeline

The minister mentioned that Pakistan was interested in purchasing gas from Iran but there were impediments in the shape of the international sanctions on Iran. “Waivers have been granted to some countries, and Pakistan is also seeking such exemptions,” he said.

Talking about the integration of renewables into Pakistan’s energy mix, the minister said that Pakistan had sunlight, wind, water, and nuclear energy. “We can produce green electricity on a large scale,” he stated.

In 2018, when the strategy was being developed, solar energy cost ¢22 and wind energy ¢23, but these costs had now reduced to ¢3 to 5, respectively. “Pakistan can produce energy using a hybrid system. Battery technology is improving, and we can generate electricity from the sun, wind, and water.”