Pakistan defies US, honors Iran gas deal

[Windjammer]

Islamabad has stepped up work on its bilateral agreements with Tehran including the implementation of a Pak-Iran gas pipeline project despite US threats.


“Construction work on the pipeline in Iranian area was completed. And on remaining portion that was to be constructed in Pakistani area the survey has been completed. Pakistan is bearing losses due to energy crises and it would go ahead with different options including Iran,” The Nation quoted a Pakistani official as saying on Thursday.

The Pakistani source added Islamabad had not backed down from its trade agreement with Iran.

On December 19, high-ranking Islamabad diplomats said the administration of Barack Obama is frustrated with the “rapid progress” of Pakistan's gas project with Iran, and is exhausting all its resources to sabotage the deal.

“They (US officials) have gone to the extent of threatening [Pakistan's] President [Asif Ali] Zardari of economic sanctions if work is not stopped immediately,” the official said.

Zardari, however, reportedly dismissed the threats, bluntly asserting that the commissioning of the project is vital and inevitable for the wellbeing of Pakistan's “fast crumbling” economy.

The USD 7.6 billion gas pipeline deal, which was signed in June 2010, aims to export a daily amount of 21.5 million cubic meters (or 8.7 billion cubic meters per year) of Iranian natural gas to Pakistan.

Iran and Pakistan finalized the details of the deal during bilateral talks held in Tehran in October 2007.

In addition to exporting gas to Turkey, Armenia, and Pakistan, Iran is currently negotiating gas exports to Iraq.

PressTV - Pakistan defies US, honors Iran gas deal

 

[Rajaraja Chola]

Good news !!
India too must come above US pressure and start the work on IPI line !!!
It will help our economy in the long run !!

 

[FriendOfPakistan]

Good work, Pakistan !

 

[fd24]

Splendid news for all concerned! Pakistan and Iran partnership will hopefully flourish and make our future bright

 

[StandForInsaf]

yap do good business deals reject illegal pressure.

 

[t-birds]

Great News....!!!!!!!!

'Iran-Pakistan gas pipeline ready by 2013'

Pakistan's Minister of Oil and Natural Resources Asim Hussain

Pakistan's minister of oil and natural resources says Iran-Pakistan natural gas pipeline will be finished before the end of 2013 one year ahead of the original schedule, Press TV reports.


Addressing the Friday session of Pakistan's Senate, Asim Hussain said feasibility study of the project has been already carried out and tender documents will be given to applicant companies soon, a Press TV correspondent reported.

The minister stated that early estimates have put the project's cost at USD 1.5 billion, but the final figure will be determined by banks which will finance the project.

He added that Pakistan will rapidly build its share of the pipeline and two gas compression stations along its southern coastal highway.

The multi-billion-dollar Iran-Pakistan gas pipeline deal, which was signed in June 2010, aims to export a daily amount of 21.5 million cubic meters (or 8.7 billion cubic meters per year) of Iranian natural gas to Pakistan.

Maximum daily gas transfer capacity of the 56-inch pipeline which runs over 900 km of Iran's soil from Asalouyeh in Bushehr Province to the city of Iranshahr in Sistan and Baluchestan Province has been given at 110 million cubic meters.

The project was originally known as the Iran-Pakistan-India (IPI) pipeline project. Iran, India and Pakistan held tripartite negotiations over the project, which was also known as 'The Peace Pipeline.'

New Delhi finally left the trilateral talks over disagreements with Islamabad on issues such as the fee Pakistan would charge India for the gas transit.

In October 2007, Iran and Pakistan began a new round of talks in Tehran, where the details of the deal were finalized.

Iran ranks second in the world in natural gas resources after Russia with available gas reserves estimated at over 33 trillion cubic meters.

In addition to exporting gas to Turkey, Armenia, and Pakistan, the country is currently negotiating gas exports to Iraq.

 

[StandForInsaf]

Saturday, 24 December 2011 18:24

‘No hitch in India-Iran pipeline project'

New Delhi – India and Iran held high level talks here on Friday during which Indian Prime Minister Manmohan Singh said bilateral cooperation between the two countries would continue despite problems in making payments for imported oil.

According to Press Trust of India, Singh told International Affairs Advisor to the Leader of Islamic Revolution, Ayatollah Seyyed Ali Khamenei and long-time former Foreign Minister Akbar Ali Velayati, that efforts would be made to find a permanent solution in making monthly payments of about $1billion for oil imported from Iran, which the Prime Minister said was India's second major source of crude.

Pressure, direct and indirect, by the U.S. and its western allies has closed one avenue after another of paying for Iranian crude. “The Prime Minister said some technical difficulties are there and we want to resolve this problem with understanding from both sides,” Velayati told journalists.

Velayati, the former Foreign Minister with long-standing contacts with the top Indian leadership said there was no problem between the two countries over the Iran-Pakistan-India pipeline.

“The question is the problem of transit between India and Pakistan. There is no problem between India and Iran on this. Both countries want such a link up which is important to both sides. It is the nearest gas reserve for India and Iran cannot get a better customer like India,” he observed.

Velayati inclined in favour of greater involvement of the Shanghai Cooperation Organisation (SCO) in resolving the Afghan problem. India has, at times, expressed faith in this organisation which comprises of all the neighbours of Afghanistan, in bringing about durable peace to the country.

---------- Post added at 03:26 PM ---------- Previous post was at 03:25 PM ----------

Wednesday, 28 December 2011 20:23

Pakistan asked not to delay Iran gas pipeline

Islamabad – A Pakistani economic forum Tuesday asked the government not to delay the implement of the multi-billion Iran gas pipeline project as it would amount to damage Pakistan's economy.

According to IRNA, Dr. Murtaza Mughal, President of the Pakistan Economy Watch (PEW) said that Pakistan cannot secure its future without Iranian gas.

Dr. Murtaza Mughal said in a statement that Iran has brought pipeline to border and now Islamabad should immediately start building remaining portion of the pipeline.

Decades have already been wasted in discussions and modifications, further wastage of time will jack up costs and leave the industry uncompetitive in the international market, he warned.

Iran produces 5.5 trillion cubic feet of gas per year; it will sell 740 million cubic feet of gas per year which will address around 30 per cent of our gas deficit, he said. The 42 inch diameter pipeline has the capacity to deliver one Bcf per day, he informed.

Dr. Murtaza Mughal said that rulers seems unconcerned about over 2 per cent yearly fall in the GDP, over 25,000 crumbling industrial enterprises, and untold miseries to the masses.

He observed that the performance of local exploration sector remained dismal despite knowing that our gas fields will be exhausted by 2025.

Interests of the foreign companies that continue to work in the restive regions prove that the business is still profitable for foreigner investors, he said.

American will continue to oppose gas pipeline and do nothing to resolve chronic shortages except offering economically unviable alternatives, Dr. Mughal noted.

Despite sanctions, Iran is India's second major source of crude; it could be Pakistan's major source of gas, he opined.

He asked India to take bold decision of joining the project after getting MFN status as it cannot ignore its nearest gas reserves for long. Dr. Murtaza Mughal asked Imran Khan to keep energy security top priority.

He also advised the government not to accept US pressure on the project as the US is trying to weaken Pakistan through such tactics.