Dubai, UAE | – Tehran and Islamabad have extended the completion deadline for the Iran-Pakistan gas pipeline from December 2014 to December 2015, according to officials from the Pakistani petroleum ministry.
According to media reports, the extension was agreed upon during Pakistani Prime Minister Nawaz Sharif’s recent visit to Iran. Iran and Pakistan signed an inter-governmental framework declaration on May 24, 2009, and Inter State Gas System of Pakistan (ISGS) and National Iranian Oil Company signed a gas sale purchase agreement on June 5, 2009.
According to these agreements, the first flow of gas to Pakistan was forecast to commence by December 31, 2014; however, the two countries have now extended the completion date by one year due to the imposition of sanctions on Iran.
“During Nawaz Sharif’s recent visit to Iran the impression that Pakistan might abandon the US$ 1.5 billion project due to pressure from the US, Saudi Arabia and some other oil-rich states was dispelled,” officials stated.
“We are really serious about constructing the pipeline as we desperately need gas to meet our local requirements. Besides the IP gas, we are also progressing on the Turkmenistan-Afghanistan-Pakistan and India (TAPI) gas pipeline project, which will bring 1.325 billion ft3/d of gas to Pakistan and India, and 500 million ft3/d to Afghanistan.”