Pakistani Minster to Visit Iran to Talk IP Gas Pipeline

Pakistan’s Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi is to visit Iran on October 10 to discuss issues relating to Iran-Pakistan (IP) gas pipeline project, Business Recorder has reported.

A senior Petroleum Ministry official told to Business Recorder that the Pakistani delegation will also deliberate with Iranian authorities on the possibility of fully financing the project. The government of Iran has assured Pakistan of $500 million for the construction of pipeline. 

"We are going to Iran to renegotiate financing of Iran-Pakistan (IP) gas pipeline project and will also request Iranian authorities to extend the deadline of IP gas project from December 2014 to a mutually agreed time frame," Petroleum Ministry officials said.

German-based firm ILF, National Engineering Services Pakistan (NESPAK) and Iranian construction company Tadbir are set to complete the project, which would cost $1.5 billion. 

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