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                                        Volume. 12143

Iran denies claim completion date of IP pipeline pushed back
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c_330_235_16777215_0_http___tehrantimes.com_images_stories_famous_04_ipf4.jpgTEHRAN – Iran denied it has extended the completion date of Iran-Pakistan (IP) gas pipeline project from December 2014 to December 2015.
 
Iran has not made any agreement with Pakistan to change the completion date of the project, the ISNA news agency quoted Iranian Deputy Oil Minister for International and Trade Affairs Ali Majedi as saying on Friday.
 
On May 28, senior Pakistani Petroleum Ministry officials told Business Recorder that Iran and Pakistan have extended the completion date of the IP gas pipeline project from December 2014 to December 2015. 
 
During the recent visit of Prime Minister Nawaz Sharif to Iran, the two countries held in-depth discussions on the completion of IP gas line and agreed to extend the completion date by one year, according to Business Recorder.
 
On May 24, 2009 Iran and Pakistan signed a bilateral treaty titled Intergovernmental Framework Declaration, while on June 5, 2009 Inter State Gas System of Pakistan (ISGS) and National Iranian Oil Company (NIOC) signed the Gas Sale Purchase Agreement (GSPA), which envisaged the first flow of gas to Pakistan to commence by December 31, 2014.
 
Iran laid the pipeline on its side by investing $2 billion but Pakistan failed to lay the pipeline on its side of the border. 
 
Pakistan had invited bids but no company participated in it. Iran committed two tranches of $250 million each to lay Pakistan's portion of the pipeline but recently it declined to provide financing, saying it was ready to provide gas but would not provide funds for Pakistani portion of the project.

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Last Updated on 30 May 2014 15:34