Pak-Iran gas pipeline project formally signed

admin — Sat, 06 Jun 2009 03:56:41 +0000

ANKARA: The gas pipeline project between neighboring Pakistan and Iran has been formally signed here late on Friday, Geo news reported. The agreement was signed between Iranian National Oil Company (INOC) and Pakistani Interstate Gas Company (PIGC). The Managing Director (MD) of PIGC Hassan Nawab told Geo news the agreement is governed through third country law so it was bound to be signed in a third country and has been signed here in Turkey. He said the work on the project has commenced from today (Friday) and will be completed by 2013 whereby Pakistan will receive 750 cubic million gas on daily basis which will be enough for generation of 4000 megawatt electricity. “The gas pipeline will begin from Gawadar near Iranian border having 800 kilometer length”, he maintained adding, “The determination of gas price will be linked with contemporary oil prices at international market but will be less than 25 per cent as compared to crude oil prices”. The estimated cost of the project will be US $1.2 billion, he added.

Pak-Iran gas agreement within weeks: Dr Asim

admin — Mon, 18 May 2009 23:24:41 +0000

KARACHI: Advisor to Prime Minister on Petroleum Dr Asim Hussain has said that Pakistan and Iran will sign the agreement for the supply of gas under Iran Pakistan Gas Pipeline by the end of this month or next month. He was speaking at the inauguration of 7th Pakistan Oil, Gas and Energy Exhibition (POGEE) and conference, 5th Fire Security Pakistan exhibition at Karachi Expo Centre Monday. He said that Iran has nearly built the site for the supply of gas at Pak-Iran border. Currently we are working on the details of the project. For example, in which country we will go for the arbitration in case of dispute, he added. Dr Asim said that the efforts to get natural gas under Turkmenistan Afghanistan Pakistan gas pipeline were also in progress. At the same time, the government was exploring possibilities for utilizing Thar coal reserves for gasification and power generation, he opined. Responding to the demand from speakers at the exhibition about the power shortage, he said that government was exploring every possible way to raise power generation. However, he urged the masses to remain patient because it will take some time to enhance power generation in the country. The gap between the demand and supply of power will be overcome in next two to three years, he noted. The Advisor said that Pakistan was depending on imported fuel to met domestic requirements for energy. We are producing 3.9 billion cubic feet of gas per day against the demand for 9 billion cubic feet per day while the crude oil production was 70,000 barrel per day against the demand of 370,000 barrel per day, he added. He said that the new petroleum policy has generated an overwhelming response as large number of foreign exploration and production companies including British Petroleum, ENI, have shown interest in Pakistan. Dr Asim said that Pakistan will hold road shows to attract investment in the oil and gas sector in London (UK), Houston (USA) and Calgary (Canada) in July this year. He said the government has preparing hydrocarbon vision for next 20 years to give a road map for oil and gas exploration and make the country self sufficient in energy requirements. Earlier, chairman Pegasus Consultancy Asim Siddiqui said that 335 companies from 31 countries were participating in POGEE exhibition and conference and Fire Security Conference. He pointed out that China and Iran have separate pavilions. President, Fire Protection Association, Farhat Husain, chairman Pakistan Petroleum Dealers Association Abdus Sami Khan and President SAP Asim Haq also spoke on the occasion. Later, the chief guest visited various stalls at the exhibition.

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Pak-Iran gas pipeline project formally signed

Pak-Iran gas agreement within weeks: Dr Asim