Pakistan, Iran agree to discuss IP gas line project

ISLAMABAD: Pakistan and Iran have agreed to discuss the way forward for implementation of IP gas line and to this effect the authorities concerned of both the countries will hold curial parleys in Tehran either by end of the current month or in early next month.

The way forward will be worked out for materializing the project in the presence of US sanctions and in addition the new time lines for the project will also be discussed, a senior official at Petroleum Division told The News.

In the wake of the price at which Pakistan is procuring the LNG from Qatar and is having through spot purchasing and the price of gas settled under TAPI line, the both sides would also review the gas sales purchase agreement including the penalty clause that was inked between Pakistan and Iran in 2009.

The new development of the agreement from both sides to initiate talks has got paramount significance particularly when Iran had threatened to move the arbitration court following the shelving of IP project by the Nawaz government, the official said.