India has revealed that it will take only a 10% stake (US$300 million) of the 10 billion Turkmenistan-Afghanistan-Pakistan-India (TAPI) pipeline.
"Turkmenistan's state-owned TurkmenGaz will be the leader of the consortium and will take a minimum 51% stake. India will be represented by [state gas utility] GAIL India," a Senior Government Official stated.
The company’s decision on a low stake in the project is due to the potential risks and inherent security.
Leading the way
Work on TAPI has not begun yet, as the four nations have been unable to acquire an international firm who could lead the group to construct and operate the pipeline.
France’s Total SA showed interest in this position, however, it retracted its proposal after Turkmenistan refused to accept its stake in the gas field for the pipeline.
Edited from various sources by Stephanie Roker
Sources: NDTV Profit, Pakistan Today, IIFL