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Home >> Business
UPDATED: 07:55, April 11, 2007
Pakistan clears Iran-Pakistan-India gas sharing arrangement
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Pakistan on Tuesday approved gas sharing arrangement under which Iran would provide 2.1 billion cubic feet of gas per day in the first phase with equal share for Pakistan and India.

The Economic Coordination Committee of the Cabinet (ECC), chaired by Prime Minister Shaukat Aziz, also cleared several other issues related to Iran-Pakistan-India (IPI) gas pipeline project, Secretary of Petroleum Ahmad Waqar told a news conference.

Giving details about IPI project, Ahmad Waqar said that in the second phase, Iran would supply 3.2 billion cubic feet of gas per day.

Out of the total 5.3 billion cubic feet to be received from Iran, Pakistan would get 2.1 billion and India 3.2 billion cubic feet of gas per day.

The ECC also approved recommendation of the Ministry of Petroleum for a segmented approach for project structure implying that Iran would construct the pipeline upto Pakistan border and Pakistan upto Indian border.

Construction of Pakistan portion of the pipeline, which would be in the range of 750 to 1,050 km, would cost around three billion dollars.

The ECC approved in principle the gas pricing mechanism and would give final approval when final approval from India and Iran would be available.

Replying to questions the Secretary of Petroleum said if everything goes well, the construction work would begin next year and completed in about four years. The first gas delivery is expected in 2012.

He said Iran has informed that it is already working on its portion of the gas pipeline, which would also supply gas to eastern Iran.

Source: Xinhua

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