A major contribution to implementation of the project acts the Asian Development Bank (ADB). At the 24th Steering Committee, the delegation of ADB headed by Mr. Sean O'Sullivan gave an exclusive interview to our correspondent.
- Mr. Sullivan, the ADB actively supports the construction of the Turkmenistan-Afghanistan-Pakistan-India gas pipeline project, and since 2013 year the Asian Development Bank acting as a Transaction Advisor for the project. What are the tasks of the ADB?
- The tasks of ADB in the capacity of the Transaction Advisor of the TAPI project were included creation of Project Company and identifying of the consortium leader, which would receive the large part of corporate capital, leading it and implementing the work on financing, building, and operating the TAPI gas pipeline.
- How do you assess the results of the work?
- First of all, it was created Project Company registered in November 2014 year. Turkmenistan’s State Concern « TurkmenGas” was appointed as a leader the TAPI Ltd. Consortium in August of 2015 year. Following which, the ADB was engaged in development of a Shareholders’ Agreement which was signed in December of 2015 year, and today it was signed the Investment Agreement.
- What is the meaning of the today’s signed Investments Agreement?
-Signing the Investment Agreement is a significant landmark in realization of TAPI project. Within the framework of the agreement, shareholders invest over 200 million US dollars of their funds to finance the next phase of construction of TAPI gas pipeline. It confirms determinations and political will of Parties in realization of a large scale project and reinforcement of prestige of Turkmenistan at the world market in energy resources as the first rate natural gas supplier to South Asia.
- The Asian Development Bank (ADB) and Turkmenistan ties a long-term cooperation. What are the key directions?
- From the very moment of the cooperation with Turkmenistan in 2000 year, the ADB supports the national development programme of the country. Taking into consideration the enormous energy resources and favorable geopolitical situation of your country the activities of the ADB focused on transport and energy spheres, development of private sector, transforming skills and technologies, upgrading potential of the country. Current project is supported by the ADB on the railway vector North-South, which is a good example of our cooperation with the country. This project supports expansion and upgrading of the railway system, connecting Turkmenistan with Kazakhstan and Iran improving movement of people and goods, and supporting regional trades. Planned credit programme of the ADB and Turkmenistan for the period) 2016-2017 years consists of 1 billion US dollars and aimed at development of railway corridors, production and delivery of electrical energy.
-What are the ADB perspectives with regard to resolve regional issues?
-Development regional cooperation and integration is one of the main mandates of the Asian Development Bank (ADB). In the framework of the Central Asia Regional Economic Cooperation (CAREC), supported by the ADB, 10 countries (including Turkmenistan) and 6 multilateral partners on development are working together to promote its work through cooperation in energy, transport, and trade. CAREC programme mobilized over 27 billion US dollars in support of development of infrastructure in the region. TAPI project and railway vector North-South is implemented in the framework of CAREC programme. The ADB will continue to support initiative of Turkmenistan in the framework of regional cooperation.
- Mr. Sullivan, the ADB actively supports the construction of the Turkmenistan-Afghanistan-Pakistan-India gas pipeline project, and since 2013 year the Asian Development Bank acting as a Transaction Advisor for the project. What are the tasks of the ADB?
- The tasks of ADB in the capacity of the Transaction Advisor of the TAPI project were included creation of Project Company and identifying of the consortium leader, which would receive the large part of corporate capital, leading it and implementing the work on financing, building, and operating the TAPI gas pipeline.
- How do you assess the results of the work?
- First of all, it was created Project Company registered in November 2014 year. Turkmenistan’s State Concern « TurkmenGas” was appointed as a leader the TAPI Ltd. Consortium in August of 2015 year. Following which, the ADB was engaged in development of a Shareholders’ Agreement which was signed in December of 2015 year, and today it was signed the Investment Agreement.
- What is the meaning of the today’s signed Investments Agreement?
-Signing the Investment Agreement is a significant landmark in realization of TAPI project. Within the framework of the agreement, shareholders invest over 200 million US dollars of their funds to finance the next phase of construction of TAPI gas pipeline. It confirms determinations and political will of Parties in realization of a large scale project and reinforcement of prestige of Turkmenistan at the world market in energy resources as the first rate natural gas supplier to South Asia.
- The Asian Development Bank (ADB) and Turkmenistan ties a long-term cooperation. What are the key directions?
- From the very moment of the cooperation with Turkmenistan in 2000 year, the ADB supports the national development programme of the country. Taking into consideration the enormous energy resources and favorable geopolitical situation of your country the activities of the ADB focused on transport and energy spheres, development of private sector, transforming skills and technologies, upgrading potential of the country. Current project is supported by the ADB on the railway vector North-South, which is a good example of our cooperation with the country. This project supports expansion and upgrading of the railway system, connecting Turkmenistan with Kazakhstan and Iran improving movement of people and goods, and supporting regional trades. Planned credit programme of the ADB and Turkmenistan for the period) 2016-2017 years consists of 1 billion US dollars and aimed at development of railway corridors, production and delivery of electrical energy.
-What are the ADB perspectives with regard to resolve regional issues?
-Development regional cooperation and integration is one of the main mandates of the Asian Development Bank (ADB). In the framework of the Central Asia Regional Economic Cooperation (CAREC), supported by the ADB, 10 countries (including Turkmenistan) and 6 multilateral partners on development are working together to promote its work through cooperation in energy, transport, and trade. CAREC programme mobilized over 27 billion US dollars in support of development of infrastructure in the region. TAPI project and railway vector North-South is implemented in the framework of CAREC programme. The ADB will continue to support initiative of Turkmenistan in the framework of regional cooperation.
