NEW DELHI, Jan 15 (Bernama) -- Framework for the Turkmenistan-Afghanistan-Pakistan India (TAPI) pipeline project is being readied on a fast track basis by officials of the four stakeholder nations, India's Minister for Petroleum & Natural Gas, Dr M.Veerappan Moily said.
The transactional advisor for the project has been appointed and sale purchase agreement has been drawn, he said, adding that the aim is to bring gas from Turkmenistan to the Indian border by 2017.
"Apart from gas, this TAPI pipeline would usher in peace among the nations as well. The gas is expected to reach the border of India by August 2017," the Minister said on Tuesday at the Petrotech 2014, 11th International Oil and Gas Conference and Exhibition.
Another major development was the signing of memorandum of understanding (MoU) between India's Oil and Natural Gas Cooperation (ONGC) and Kuwait's Petrochemical Industries Company (PIC) for cooperation in hydrocarbon value chain.
The MoU will see bilateral cooperation between the two nations in the upstream and downstream hydrocarbon sector, especially petrochemicals.
The minister also had bilateral meetings with Ministerial delegations of Ecuador, Uganda, Sudan, and Azerbaijan to open up vast possibilities for cooperation in exploration (both offshore & onshore), petrochemicals, refineries, providing training to their oil and gas personnel.
A joint Indo-Ugandan working team is under formation to look into opportunities for cooperation in the newly opened up Ugandan hydrocarbon sector.
Similar opportunities are expected to be leveraged in Ecuador, especially in exploration of oil and gas, petrochemicals and urea, he said.
"Sudan and South Sudan are coming to terms with the emerging opportunities in global cooperation and Indian companies are tapping the potential opportunities. Two blocks have been offered to India," he informed.
ONGC Videsh Ltd is already present in Sudan in a big way and the future may see the presence expanding its frontiers, he added.
-- BERNAMA
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