The two countries signed a Memorandum of Understanding (MoU) in this regard that will also allow Indian companies to work with the firms here on several projects in oil exploration and setting up of gas pipelines.
Minister of State for External Affairs E Ahamed and Turkmenistan Deputy Prime Minister for Oil and Gas Tachberdy Tagiev inked the MoU in the presence of visiting Vice-President Hamid Ansari.

The MoU which is expected to give a boost to Indo-Turkmen ties was the highlight of the visit of Ansari to the country which is among the top ten countries with gas reserves.

Ansari noted that oil companies in India have vast expertise, experience as well as required capital and are willing to “constructively participate” in Turkmen energy sector, in upstream and downstream activities.
Turkmenistan President Gurbanguly Berdimuhammedov said the participation of Indian companies and enterprises in the oil-gas projects in Turkmenistan would benefit both countries.

Ansari thanked the Turkmenistan leader for “the formal support we have received for our membership in the Turkmenistan-Afghanistan-Pakistan-India (TAPI) pipeline project”.

The proposed project envisages a trans-national pipeline that would carry gas from the Dauletabad fields here to India.

The Turkmen President, who had one-to-one talks with Ansari and a delegation-level meeting, while referring to TAPI project said “the realisation of this large scale project is not only beneficial for the participating countries, but for the strengthening and expansion of cooperation in whole Asia”.