Iran not hopeful on gas pipeline Project by Pakistan

2013-10-31 00:38:23 | Al Muslim News
Iran not hopeful on gas pipeline Project by Pakistan

 

Iranian Oil Minister Bijan Zanganeh said that he had no hope of exporting gas to Pakistan because financing is not available to finish building a pipeline. Iranian Oil Minister Bijan Zanganeh said that there is no hope to exporting the gas to Pakistan due to insufficient finance to complete the pipeline by Pakistan. Given the current situation of the project, we do not have hope in future for exporting gas to Pakistan,” Zanganeh said. Earlier, Petroleum Ministry of Pakistan requested Iran for $2 billion (1.45 billion euros) to build its side of a controversial gas pipeline that has drawn threats of US sanctions. In these conditions how we could export gas to Pakistan Zanganeh added. The Iranian side of the $7.5-billion project is almost complete, but Pakistan has run into repeated problems paying for the 780 kilometre (485 mile) section to be built on its side of the border. Iran currently produces around 600 million cubic metres (21.2 billion cubic feet) of gas per day, almost all of which is consumed domestically. Its only foreign client is Turkey, which buys about 30 million cubic metres per day. Spooked by fears of US sanctions and lack of money supply, the Pakistanis have so far dragged their feet on completing the project on their side..

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