Pakistan, India discuss petroleum products trade, TAPI pipeline

Islamabad, Mar 23 (ANI): Pakistan Petroleum and Natural Resources Secretary Muhammad Ejaz Chaudhry discussed on bilateral trade of petroleum products forward and the progress of the Turkmenistan-Afghanistan-Pakistan-India (TAPI) pipeline project with Indian counterpart GC Chaturvedi in New Delhi on Thursday.

The Pakistani delegation is attending the 7th Asia Gas Partnership Summit 2012 in New Delhi.

During the meeting, discussions were held on the transit fee for the TAPI project and the import of petroleum products from India. The possibility of joint ventures for oil and gas exploration were also discussed.

The theme of the Asia Gas Partnership Summit is "Evolving Dynamics of the Asian Gas Market: Challenges of Sourcing, Integration and Sustainability". Focus areas of the summit include evolving international gas trade; Sourcing, connectivity and potential markets; Gas transportation and distribution; Gas infrastructure, financing and risk mitigation; unconventional sources of natural gas; and commercial and legal considerations.

According to The Dawn, it may be recalled that Dr Asim Hussain, Minister for Petroleum and Natural Resources, visited India during January 2012 and discussed transit fee for the TAPI Pipeline Project with his counterpart.

Turkmenistan has already finalised the Gas Sale Purchase Agreement (GSPA) with all the participating countries for the7.6 billion dollars TAPI gas pipeline that will pave the way for the supply of 3.2 billion cubic feet of natural gas per day from South Yolotan /Osman and adjacent gas fields to South Asian states through the pipeline. (ANI)