State gas companies from Turkmenistan, Afghanistan, Pakistan and India plan to establish a quad-national natural gas pipeline, the Asian Development Bank (ADB) announced Thursday.

The Turkmenistan-Afghanistan-Pakistan-India (TAPI) pipeline will be owned and operated by the four nations. The 1,118-mile line will serve all four countries. Turkmengas, Afghan Gas Enterprise, Inter State Gas Systems and India's GAIL company own shares in this pipeline, which will be overseen by the ADB.

“Establishment of the TAPI pipeline company is a key milestone in the development of the pipeline. It is a tangible sign of transformational cooperation among the parties that presages the enhanced energy security, business prospects, and overall peace and stability in the region promised by the pipeline,” Klaus Gerhaeusser, director general of ADB’s Central and West Asia Department, said.

ADB, based in Manila, aims to reduce poverty in Asia and Pacific islands through inclusive economic and environmentally sustainable growth, as well as regional integration. In 2013, ADB assistance totaled $21 billion.