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Iran likely to abandon pipeline project with Pakistan: Oil MinisterTEHRAN: Iran’s Oil Minister Bijan Namdar Zagnaeh announced on Wednesday that the country was likely to abandon the multi-billion dollar pipeline project with Pakistan, Fars news agency reported.
The Iranian Oil Minister told reporters on the sidelines of a gas forum that “the contract for supplying gas to Pakistan is likely to be annulled.”
Earlier this month, Pakistani Petroleum Minister Shahid Khaqan Abbasi asked Iran for $2 billion (1.45 billion euros) to build its side of a controversial gas pipeline that has drawn threats of US sanctions.
Under those conditions, "it is seems improbable to export gas" to Pakistan Zanganeh added.
The Iranian side of the $7.5-billion project is almost complete, but Pakistan has run into repeated problems paying for the 780 kilometre (485 mile) section to be built on its side of the border.
Iran currently produces around 600 million cubic metres (21.2 billion cubic feet) of gas per day, almost all of which is consumed domestically. Its only foreign client is Turkey, which buys about 30 million cubic metres per day.
AFP
Courtesy www.geo.tv