Iran Deputy Oil Minister Mohammad-Hadi Nejad Hosseinian arrived in Islamabad on Friday to discuss pricing of the gas formula of the over seven-billion-dollar Iran-Pakistan-India (IPI) gas pipeline project.
Hosseinian, leading an eight-member delegation, will hold formal talks with Pakistan's Secretary Petroleum Ahmed Waqar in the three-day visit.
"We will discuss pricing formula in talks. If we could not reach any agreement, then the issue will be discussed in oil ministers meeting in Tehran next month," Hosseinian told IRNA on his arrival at Islamabad air port.
He said Pakistan had sent a draft gas pricing formula to Iran based on domestic gas pricing mechanism and the Iranian delegation would discuss the same with Pakistani officials.
"I am hopeful that Iran, Pakistan and India will finalize all aspects of the project in two months," the Oil Deputy Minister said.
Senior Pakistani petroleum ministry officials received Hosseinian on his arrival.
Iranian ambassador Muhammad Ibrahim Taheryan was also present.
Hosseinian will begin meetings with Pakistani officials later Friday.
The visit comes few days after a telephonic talk between President Mahmoud Ahmadinejad and President General Pervez Musharraf, who vowed to take the project forward.
Hosseinian said Iran is interested in the early implementation of the multi billion dollar project and said Pakistan and Iran will try to finalize many matters in the Islamabad talks.
To a question about reports that if India stays away from the project due to U.S-India nuclear cooperation agreement, he said top Indian officials have shown interest in the project.
"But if India did not take any decision by May end, so we will go ahead with Pakistan to implement it.
He said India will be welcomed whenever it wants to join the project.
He said Iran is determined to finalize all technical aspects of the project within two months.
He added the oil ministers of Iran, Pakistan and India are set to meet in Tehran next month to finalize the project.
It will be the first trilateral meeting and is likely to finalize the Tripartite Framework Agreement on the project.
The 2,670-km pipeline has about 1,115-km length in Iran, 705kms in Pakistan and 850kms in India.
Reports suggest the proposed IPI pipeline project was most likely to be initiated by mid-2007 and it would be completed in early 2010, provided it was not circumvented by political issues.
Pakistan says it pursuing the project and desired to implement one of the most viable projects as quickly as possible to meet the energy supply and demand gap after 2010.
© IRNA 2006
