Islamabad clears Iran-Pakistan-India gas sharing arrangement
Apr 10, 2007 - 11:13:18 PM
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The ECC approved in principle the gas pricing mechanism and would give final approval when final approvals from India and Iran would be available.
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By Xinhua,
[RxPG] Islamabad, April 10 - Pakistan Tuesday approved a gas sharing arrangement under which Iran would provide 2.1 billion cubic feet of gas per day in the first phase with equal shares for Pakistan and India.
The Economic Coordination Committee of the Cabinet -, chaired by Prime Minister Shaukat Aziz, also cleared several other issues related to the Iran-Pakistan-India - gas pipeline project, Secretary of Petroleum Ahmad Waqar told a news conference.
Giving details about the IPI project, 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 up to the Pakistan border and Pakistan up to the Indian border.
Construction of the Pakistan portion of the pipeline, which would be in the range of 750 km to 1,050 km, would cost around $3 billion.
The ECC approved in principle the gas pricing mechanism and would give final approval when final approvals from India and Iran would be available.
Replying to questions, the petroleum secretary said if everything goes well, the construction work would begin next year and would be completed in about four years. The first gas delivery is expected in 2012.
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