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Work on Iran Gas Line Satisfactory: Pakistani PM

Service : Economy
TEHRAN, June 30 (ICANA) – Pakistani Prime Minister, Syed Yusuf Raza Gilani, was informed on Wednesday that 1100 KM of gas pipeline on the Iranian side has been completed, officials said.
Thursday, June 30, 2011 12:52:58 PM
Work on Iran Gas Line Satisfactory: Pakistani PM

Minister for Petroleum & Natural Resources, Asim Hussain, told the Prime Minister in a meeting that the progress on the IP Gas Pipeline Project on the Pakistani side, which started on May 9, is quite satisfactory, a statement from the Prime Minister’s office said.

The $7.6 billion project is crucial for Pakistan to avert a growing energy crisis already causing severe electricity shortages in the country. The project would help generate around 5,000 megawatts of electricity, experts say, IRNA reported.

Under the deal, Pakistan will import from Iran 750 million cubic feet of gas daily for 25 years, according to officials.

Pakistan and Iran had finalized the gas pipeline projects last year, under which Iran will start supplying natural gas to Pakistan from 2014.

The pipeline will facilitate transfer of natural gas from Iran's biggest gas field in South Pars to Pakistan through its Balochistan province.

The Minister for Petroleum & Natural Resources briefed the Prime Minister on his recent visit to Iran and his meeting with the Iranian Minister for Energy, the statement said.

As regards import of electricity from Iran, he mentioned that an Iranian team of experts would be arriving in Pakistan soon to assess the details of the project particularly establishing connection with Pakistan’s National Grid.

The Prime Minister directed the Ministry of Petroleum to prepare a comprehensive strategy to meet the energy needs particularly gas and petroleum for the next two years.

He expressed confidence that besides tapping indigenous sources, agreements with other regional countries to meet our energy needs would bear positive results.

Originally conceived in the mid-1990s, the pipeline was to be a three-nation venture that extended right up to India.

India pulled out of the project and finally, Iran and Pakistan decided to enter into a bilateral agreement in May 2009.

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