Gulf Oil and Gas accountACCOUNT

Iran Rejects Claim of New Agreements with Pakistan on IP Gas Pipeline

Source: Tehran Times 12/30/2014, Location: Asia

The Iranian Oil Ministry has rejected the claim by some Pakistani media that Iran and Pakistan have reached new agreements on the Iran-Pakistan gas pipeline project, the Shana News Agency reported.

On December 27, the Financial Times quoted Pakistani Federal Minister for Petroleum and Natural Resources Shahid Khaqan Abbassi as saying that Pakistan has convinced Iran to step back from demanding $200 million a month from January 1 to compensate for Islamabad’s failure to begin receiving gas from Iran’s South Pars gas field.

Pakistani minister said: “We have a new understanding with Iran. There will be no penalty applicable from January 1.”

A statement released by the Iranian Oil Ministry’s Public Relations Department said although Iranian and Pakistani officials have negotiated on the IP project, they have not still come to an agreement in this regard.

Iran and Pakistan signed an agreement over the construction of the gas pipeline in 1995.

Iran has already built its 900-kilometer share of the pipeline on its own soil and is waiting for the 700-kilometer Pakistani side of the pipeline to be built.

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 later it declined to provide financing, saying it was ready to provide gas but would not provide funds for Pakistani portion of the project.

For more information about related Opportunities and Key Players visit Caspian Region Projects

Pipe Lines Installations News in Iran >>

Germany >>  7/6/2020 - The Danish Energy Agency has decided that Nord Stream 2 AG also may use pipelaying vessels with anchors in connection with construction of the Nord St...
Norway >>  6/23/2020 - On behalf of the license partners, Equinor has awarded two contracts and issued a letter of intent to TechnipFMC for pipelaying and subsea installatio...

Israel >>  6/22/2020 - Energean plc (ENOG) the oil and gas producer focused on the Mediterranean, is pleased to announce the completion of a key milestone in the Karish and ...
Azerbaijan >>  6/9/2020 - Trans Adriatic Pipeline (TAP) AG successfully completed the 105 km long offshore section of the pipeline across the Adriatic Sea. This milestone inclu...

Related Categories: Civil Works  Civil Works - Finishing works  Construction Contractors  Electrical Works  Engineering Procurement and Construction (EPC)  Engineering Procurement and Construction Management (EPCM)  General  Mechanical Works  Pipe Lines Installations  Steel Works 

Related Articles: Civil Works  Civil Works - Finishing works  Construction Contractors  Electrical Works  Engineering Procurement and Construction (EPC)  Engineering Procurement and Construction Management (EPCM)  General  Mechanical Works  Pipe Lines Installations  Steel Works 


Iran Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 |

Oil & Gas Projects in Iran >>

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.