UAE firm offers to invest in Iran-India pipeline

UAE-based TransAsia Gas has offered to invest in any of the gas pipelines from Iran or Turkmenistan to Pakistan and India.

  • E-Mail
By  Jyotsna.Ravishankar Published  October 4, 2005

UAE-based TransAsia Gas has offered to invest in any of the gas pipelines from Iran or Turkmenistan to Pakistan and India. Aamer Chishti, general manager of TransAsia Gas, told Oil&Gas Middle East that the company was indifferent to the source of the gas that was being supplied to Pakistan and only interested in building the infrastructure required to transport it. “We are going to assist in the transport of gas from border to border and do not care if the border is Turmekistan or Iran,” he said. Previously, the UAE ambassador to Pakistan, Ali Al Shamsi said: “TransAsia is prepared to lay the pipeline to energy-starved south Asia that would cost US $4.2 billion. The interest in the project has been conveyed to the authorities concerned in Islamabad.” Al Shamsi had also said the UAE government would help TransAsia, a venture of Al Ghurair Group, invest in the field of oil and gas, since the government believes that such strategic projects could help in establishing stability and harmony in the region. “The proposed gas pipelines from Iran and Turkmenistan will have a potential to improve the political atmosphere in the area,” he asserted. The ambassador said the UAE has invested more than $9.5 billion in Pakistan during the last four years and its investment will reach $15 billion by 2007. Chisti, also in charge of the pipeline project, said that the company was taking “a separate approach on the pipeline instead of an integrated approach” that was so far being discussed. “What is likely to happen are separate transactions between Iran and Pakistan and Pakistan and India. So, we will help in receiving the gas from Iran and transporting it to Pakistan and also from Pakistan to India, where a gas company in India can take charge of the gas.” In April, TransAsia Gas and Interest Gas Company of Pakistan (ISGSL) also signed a memorandum of understanding (MoU) to form a joint venture company in gas pipelines projects, which would explore the possibility of investment in the petroleum sector of Pakistan in general, and pipeline infrastructure development for import of gas into Pakistan from any of the neighbouring countries in particular. This MoU will also give TransAsia Gas Company the mandate to transport the gas within Pakistan, according to Chisti. When asked of the challenges, Chisti said that apart from the usual problems caused by terrain, the pipeline will also be met with some resistance by the local people. To overcome this, the company plans to involve the communities the pipeline will traverse, to ensure smooth completion of the laying, which will take between two and three years. To date, the company says it has invested more than a billion dollars in Pakistan.

Add a Comment

Your display name This field is mandatory

Your e-mail address This field is mandatory (Your e-mail address won't be published)

Security code