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Third Party Needed in Iran-Pakistan Gas Pipeline Project

Source: Shana 9/4/2017, Location: Asia

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Iran says a third party is needed in the Iran-Pakistan gas pipeline in order to ensure payment of Tehran's gas money by Islamabad.

Speaking on Monday, Iranian Minister of Petroleum Bijan Zangeneh told reporters: “I believe that Iran will finally send its gas to Pakistan but considering the lessons I have learned about this issue over the years, I think a third party would be needed for financing and completing Pakistan’s share of the project.”

“Pakistan says it lacks finances for launching its share of the pipeline,” he said, adding there are also concerns that even after export of the gas, Islamabad will fail to pay its dues to Iran.

“This means that a third party would lay out Pakistan’s share of the pipeline so we would rest assured of payment of our gas money,” the official added.

There are certain oil and gas companies in the world that would like to join the project but no tangible results have been reached in talks with them so far, he further said.

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