Azernews.Az

Thursday March 28 2024

Iran expresses readiness to export gas to Pakistan

28 November 2014 12:10 (UTC+04:00)
Iran expresses readiness to export gas to Pakistan

By Sara Rajabova

Iran’s Oil Minister Bijan Namdar Zanganeh has said his country will not stop the long-delayed project on exporting gas to Pakistan.

Zanganeh said Iran has almost completed the construction of the Iran-Pakistan pipeline in its territory and is ready to export gas to Pakistan, once Islamabad finishes its part of the pipeline, Mehr news agency reported.

Earlier, Pakistani media claimed that Iran has unilaterally suspended the project on supplying Iranian gas to Pakistan.

In case of accomplishment, the IP pipeline will see 21.5 million cubic meters (mcm) per day of Iranian natural gas exported to Pakistan.

The multi-billion-dollar pipeline is designed to help Pakistan overcome its growing energy needs at a time when the country with over 180 million people is grappling with serious energy shortages.

The IP gas pipeline project was delayed after Pakistan failed to commission it by the scheduled time period owing to threats of possible sanctions by the U.S. However, Pakistani officials said the country needs to complete the pipeline to resolve its energy crisis.

Formal inauguration of the IP pipeline project by Islamabad and Tehran took place in 2013.

Under the IP contract, Pakistan is bound to pay a penalty if it fails to complete the construction of its portion of the pipeline by December 31, 2014. However, Iran has agreed not to penalize Pakistan for missing the deadline.

Agreement on the construction of a joint gas pipeline between Iran and Pakistan was signed in 1995.

Iran has offered to continue the pipeline to India.

A corresponding agreement between Iran and India was signed in February 1999, but in 2009 the Indian side withdrew from the project under pressure from the United States.

Loading...
Latest See more