Iran Ready to Renegotiate Gas Export Price with Pakistan

Iran has said that it is ready to renegotiate the price of its gas supplies to Pakistan.

“The price for gas to Pakistan is not fixed, hence we can talk with them (Pakistani officials) about the price of the gas supplies to that country,” Managing-Director of the National Iranian Gas Company (NIGC) Hamid Reza Araqi said, reports Fars News Agency.

Araqi added that as per the contract the two sides can negotiate the price of the gas supplies for export to Pakistan after several years and reach a sum up.

Last week, Iranian oil ministry announced that the country is likely to give up on the multi-billion-dollar Iran-Pakistan gas pipeline project. However, Pakistani Foreign Ministry Spokesman Aizaz Chaudhry reiterated that Islamabad is resolved to pursue expedition of the pipeline project.

Pakistan has been under pressure from United States to give up on the pipeline project.

Iran has already constructed more than 900 kilometers of the pipeline on its soil but Pakistan is having trouble raising funds for the project and has asked Iran for $2 billion.

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