Sweden not only opposes Pak-Iran pipeline, also deems TAPI not viable

Sweden opposes Pakistan’s collaboration with Iran because it said that Iran should clarify its nuclear objectives.

ISLAMABAD: Sweden has not only opposed the Pakistan-Iran gas pipeline project, but has also said that the alternative pipeline from Turkmenistan is also not viable, DawnNews reported on Friday.

Sweden opposed Pakistan’s collaboration with Iran because it said that Iran should clarify the reservations posed by the international community over Iran’s nuclear objectives.

The country also said that the Turkmenistan-Afghanistan-Pakistan-India (TAPI) Pipeline was not workable.

Earlier, a Chinese bank backed off from financing the Iran-Pakistan gas pipeline project. The ICBC was finalised as the financial advisor through an international competitive bidding.

The Industrial and Commercial Bank of China (ICBC) was reluctant to sign the financial advisor contract despite being the lowest bidder.

The financial advisor was responsible for arranging funds for completing the 800-kilometre-long pipeline, at an estimated cost of $1.5 billion.

According to a contract signed in 2009, Iran will supply 750 million cubic feet of gas per day from South Pars fields to Pakistan.