Energy
0

Pakistan to Resume Gas Pipeline Project Talks

Pakistan to Resume Gas Pipeline Project TalksPakistan to Resume Gas Pipeline Project Talks

Iran and Pakistan may initiate in September the much-awaited parleys on how to advance on the IP gas pipeline project that was earlier shelved by the previous government in June 2016.

“In June 2016, Pakistan shelved the IP gas line project in the wake of pressure of a Persian Gulf country, irking the authorities in Iran at that time and to this effect, the vibes that had emanated from Tehran indicated that it might move the arbitration court against Pakistan for not completing the project on its territory,” a senior official at Petroleum Division told The News.

Pakistan hopes Iran will, the official said, not move the arbitration court on IP gas pipeline project.

Iran and Pakistan have already agreed to review the gas sale-purchase agreement signed between the two in 2009 following the reduction in prices at which Pakistan is procuring LNG from Qatar through spot purchasing and the gas price is settled under the TAPI gas pipeline. The Turkmenistan–Afghanistan–Pakistan–India Pipeline is a natural gas pipeline being developed by the Galkynysh–TAPI Pipeline Company Limited with participation of Asian Development Bank.

Add new comment

Read our comment policy before posting your viewpoints

Financialtribune.com