India pursing the Turkmenistan-Afghanistan-Pakistan-India Pipeline to receive Natural gas

India is pursing the Turkmenistan-Afghanistan-Pakistan-India (TAPI) Pipeline Project to receive Natural Gas supply from the Yolotan Osman (Galkynysh) fields in Turkmenistan. The landfall point of the pipeline in India will be at Fazika (Punjab). The Gas Pipeline Framework Agreement (GPFA) and Inte Governmental Agreement (IGA) have been signed amongst the four member countries in December 2010. Company level bilateral Gas Sales and Purchase Agreements have been signed between each of the gas buyers and the seller. Pursuant to the signing of Transaction Advisory Service Agreement (TASA) between the four entities ( 3 Buyers and the Seller) and Asian Development Bank (ADB) on 19.11.2013, ADB was appointed the Transaction Advisor. 

It was agreed to constitute a Special Purpose Vehicle (TAPI Ltd.) to carry out pre-project activities and to finalize an appropriate consortium leader for the Project. The Government of India approved the proposal for formation of SPV (TAPI Ltd.) for the TAPI Pipeline Project and permitted GAIL to join the SPV. 

Based on the recommendations of the commercial and legal consultants, on the legal and corporate structure of the consortium, a decision to incorporate TAPI Limited at Jersey was taken in February, 2014 among the Transaction Advisor (ADB) and the four member countries.