Iran-Pakistan Gas Pipeline Project to Boost Local Economy

Economic relations between Iran, Pakistan and India are improving by Iran-Pakistan gas pipeline, Iran’s ambassador to India, Seyed Mahdi Nabizadeh announced here on Wednesday.

He said that the project should not be just looked at purely from economic perspective, but as one which will have a positive impact in the region.

By stating that 90% work on Iran-Pakistan gas pipeline has been completed within Iran, he said that India is ready for having trade arrangements with other countries in the energy sector.

He also said work was also in progress on the Pakistani side and it was ready to start 50 percent of the total capacity of this pipeline.

“We have allocated 50% capacity to Pakistan and any other country, including India, can join and get the balance 50 percent of the gas”, he said.

According to the report of the public relations of National Iranian Gas Company, the last contract addendum of gas export to Pakistan was signed formally with the presence of the Iranian oil minister, Dr. Seyed Masoud Mir Kazemi, The Managing Director of Pakistan state Gas Company, Miyam Naem Sherafat, and Oil Deputy Minister of Islamic Republic of Iran, Seyed Reza Kasayi Zade last May.

By endorsement of this contract between two countries (Iran and Pakistan) Iran is responsible for natural gas export to Pakistan from 2014 in amount of 21/5 million cubic meters daily, and 7/8 billion cubic meters annually.

[mappress]

Source: NIGC, February 9, 2011;