Oil minister Jaipal Reddy is leaving for Turkmenistan on Tuesday for signing a deal between India and Turkmenistan that will supposedly secure 38 million standard cubic metres gas supply per day from Turkmenistan. The price per unit would be around $11.5.
The Gas Sale Purchase Agreement (GSPA) would be helpful in constructing trans-national pipelines with an estimation of $7.5 (Rs. 37,500 crore). The gas would be supplied to Turkmenistan to India via Pakistan and Afghanistan. It may be noted that the present LNG would be much more costlier than Turkmenistan. Therefore, the country decided to get gas from them middle Asian country.
It may be recalled that the Centre has nodded for the construction of this pipeline last week itself and today the oil minister would be visiting Turkmenistan. Notably, India is going to be bear half of the cost that would incur for setting up the pipeline. This agreement will be one of the milestones in the history of UPA Government. (Phani)
