Iran to give $250m for gas pipeline project: Petroleum minister

Dr Asim Hussain says Iran has also agreed to export 80,000 barrels of crude oil per year.


Zafar Bhutta February 28, 2012

ISLAMABAD: Iran has agreed to export 80,000 barrels of crude oil per year to Pakistan and has also agreed to provide $250 million for the Iran-Pakistan gas pipeline project, revealed Minister for Petroleum and Natural Resources Dr Asim Hussain on Tuesday.

In a special parliamentary committee meeting, Hussain told the committee members that Pakistan had asked for $500 million but Iran agreed to only $250 million.

He added that a Pakistani delegation will visit Iran in mid-March in connection with the project. The delegation will finalise the deal.

The tender for the Pak-Iran gas pipeline will be issued on Monday or Tuesday, he further added.

The United States has been pressurising Pakistan to not go ahead with the deal because of its sanctions of Iran, however, Pakistan insisted on continuing with it. Russia has also asked Pakistan to award a $1.2 billion pipeline-laying contract to its energy giant Gazprom without going into bidding process.

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COMMENTS (42)

vasan | 9 years ago | Reply

Antanu g : May I know what Pak has offered in return. Suspect it could be some nuclear components in a clandestine way. I still say nobody is going to invest a penny in this project. Just wait and watch. This has nothing to do with Pak. It is the global situation.

antanu g | 9 years ago | Reply

@vasan: YOUR LOGIC IS BASED ON WRONG FOUNDATIONS....IRAN WILL BE EQUALLY BENEFITED WITH THE PROJECT. AND ITS AID TO PAKISTAN WILL NOT BE FREE....IT IS GOING TO BE A BARTERED AGREEMENT/DEAL...ITS PUR BUSINESS AND NOTHING ELSE.BUT FOR PEOPLE LIKE YOU, WHO CLAIMED EARLIER THAT NO COUNTRY WOULD INVEST A PENNY IN PAK, THIS DEAL HAS COME AS A SHOCK TO YOU.THATS WHY I KEEP SUGGESTING TO GET RID OF YOUR BIAS TOWARDS THE COUNTRY. RESILIENT AS THE PAKIS ARE, YOU WOULD BE PROVEN WRONG AGAIN AND AGAIN.......

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