Iran dismisses extending deadline of completion gas pipeline with Pakistan
Baku, Azerbaijan, May 30
By Umid Niayesh - Trend:
Iran has dismissed reports on its agreement with extending the completion deadline of Iran-Pakistan (IP) gas pipeline project from December 2014 to December 2015.
Iran's deputy oil minister for international affairs and trade, Ali Majedi said that the completion deadline of the pipeline has not changed, Iranian ISNA news agency reported on May 30.
Earlier some media outlets quoted "senior Pakistani petroleum ministry officials" as saying Tehran and Islamabad have extended the deadline of the project by one year.
The decision was been made during the recent visit of Pakistani prime minister Nawaz Sharif to Iran, the Pakistani officials claimed.
The Iranian-Pakistani gas pipeline is projected to cost $1.2-1.5 billion and would enable the export of 21.5 million cubic meters of Iranian natural gas to Pakistan on a daily basis.
Iran has already built 900 kilometres of the pipeline on its own soil and is waiting for the 700-kilometre Pakistani side to be constructed.
However, Pakistan has made little progress on laying its leg of the long planned pipeline; largely due to lack of funds for the costly project and US pressure to drop it.
Pakistan will have to pay a penalty if it fails to lay the pipeline within its territory by December this year.