| 13 Mar 2010 |
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Pakistan, Iran to sign gas line on March 16
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Islamabad -- Pakistan and Iran will sign Operational Agreement on the multi-billion gas pipeline in Tehran on March 16, after which work on the project could be initiated, a high level meeting was told on Friday, the Prime Minister's office said. Prime Minister Syed Yusuf Raza Gilani who presided over the meeting on energy situation in the country and discussed host of options including Iran-Pakistan-India (IPI) gas pipeline to deal with the energy shortage, a statement said.
The Prime Minister said that in wake of the current energy shortage and spiraling oil prices the IPI project would prove a milestone to meet the growing energy demands in the country.
He said that usage of imported gas for power generation as well as by industries in the country would result in annual saving of foreign exchange of millions of dollars in furnace oil imports.
The Prime Minister was apprised that the IPI gas pipeline project is progressing as per schedule in accordance with the decision of the Cabinet, the statement said.
The meeting was attended by Federal Minister for Petroleum, Syed Naveed Qamar, Minister for Water and Power, Raja Pervez Ashraf, Minister of State for Finance Ms. Hina Rabbani Khar and senior officials from gas departments and several ministries.
In January Pakistan Petroleum Minister had also informed National Assembly that Pak-Iran gas pipeline accord would be finalized and signed by head of states of both countries by Feb 15; while gas import would began in 2014, after the completion of pipeline.
But the signing was delayed due to some formalities and technical aspects, sources said.
Iran insists there are no outstanding issues impeding the project for laying a gas pipeline as issues of price, revision of price, the pricing formula and other questions have been finalised.
Iranian officials have said the supply of gas to Pakistan could begin in three to four years.
The pipeline project, when initially mooted in 1994, had proposed to carry gas from Iran to Pakistan and India. But India withdrew last year from the talks over repeated disputes on prices and transit fees.
The 900-kilometre (560-mile) pipeline is being built between Asalooyeh in southern Iran and Iranshahr near the border with Pakistan and will carry the gas from Iran's South Pars field.
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