Pakistan in Dire Need of Iranian Gas

Pakistan is in dire need of natural gas from Iran, country’s Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi told an Iranian news agency.

In an exclusive interview with IRNA on Saturday, Shahid Khaqan Abbasi said that so far, Pakistan has spent tens of millions of dollars for importing gas from Iran.

“There is no doubt in Pakistan's serious intention for implementing the gas pipeline project with Iran,” he told IRNA. "Having a neighbor with abundant gas reserves is invaluable opportunity for Pakistan.”

Iran has already built its 900-kilometer share of the pipeline on its own soil and is waiting for the 700-kilometer Pakistani side of the pipeline to be built. On June 5, 2009 Inter State Gas System of Pakistan and National Iranian Oil Company signed an agreement, which envisaged the first flow of gas to Pakistan to commence by December 31, 2014.

Pakistan has been facing severe gas shortage due to increasing demand for electricity from households as well as industrial consumers. To fill the gap, the South Asian nation is trying to source gas from various sources. It is negotiating with Qatar for supply of  LNG however final price for the fuel is still an issue.