Iran announces investment in Pakistan gas pipeline project

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Photo – Forest Guardians via Wikimedia

Tehran announced on Saturday it plans to invest $250 million in the Pakistani side of a gas pipeline project which will export Iran’s  gas to Pakistan, Fars news agency quoted an informed source as saying. The report added that a team of experts from the Iranian Oil Ministry will travel to Islamabad this week to sign a relevant agreement.

“Tehran will invest in the peace pipeline (project) by paying $250 million as loan (to Pakistan for the project),” the source told FNA on Saturday.

“During the last month negotiations with the Pakistani side, Iran was agreed to be a choice for investment in the peace pipeline (project),” he added.

“A special team has been set up in the (Iranian) oil ministry to specify the method of investment and credit line for the pipeline on Pakistan’s soil,” the source said, adding that an Iranian delegation will visit Pakistan this week to sign a memorandum of understanding (MoU) there.

While Pakistan has sealed a deal on the gas pipeline with Iran, India has opted out from the historic project that will bring cheap natural gas supply to millions of homes across the Indian subcontinent. Tehran says it has not given up on India yet and will try to convince New Delhi to join what it projects as the ‘peace pipeline’ connecting the three countries in a web of prosperity.

India has raised security concerns as the proposed pipeline passes through the volatile region of Pakistani Balochistan where a separatist movement is fighting for its independence from Islamabad’s exploitation and injustice. The talks have also deadlocked over transport and transit fees with Pakistan.

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