Investment Council Accelerates TAPI Project
The Islamabad-based Supreme Committee of the Special Investment Facilitation Council (SIFC) has issued directives to the Pakistani Ministry of Foreign Affairs and the Petroleum Department to expedite the resolution of the issues surrounding Saudi Aramco, Pakistan State Oil, and the TAPI gas pipeline. According to Business Recorder, the committee, which comprises Pakistan’s top civilian and military leadership, aims to achieve specific results within a designated timeframe for the TAPI project and other prioritized ventures.
To ensure progress, several agreements must be reached by November 30, 2023. These include the Host Government Agreement (HGA), Gas Transportation Agreement (LNG), and pipeline system rules, among others. The committee also expects a report from the Minister of Petroleum, Industry and Production, as well as the Minister of Finance, regarding advancements in securing a stable gas supply for industrial, residential, commercial, and power generation purposes.
Furthermore, discussions are set to take place at the ministerial level to explore the possibility and mechanism of purchasing electricity from Turkmenistan. Additionally, options for swap gas supplies from Azerbaijan and Turkmenistan will be considered.
With these measures in place, the SIFC aims to accelerate the progress of the TAPI project and ensure a reliable gas supply for Pakistan’s various sectors.
