Islamabad says it will finish the pipeline projected to carry natural gas from Iran to Pakistan, and will start importing gas from its western neighbor by early 2015.
Pakistan Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi told the National Assembly on Wednesday that the Iran-Pakistan gas pipeline would finally be completed in December.
Abbasi noted that Islamabad is bound to purchase gas from Iran by January 1, 2015, and it would face a penalty of USD 3 million per day if it fails to meet the deadline.
He said despite a number of obstacles, the government remains committed to completing the gas pipeline project within the stipulated period.
The final construction phase of the pipeline, which would cost about USD 1.5 billion, was inaugurated on March 11.
Iran has already built 900 kilometers of the pipeline on its soil and is helping to build the 700-kilometer part of the pipeline on the Pakistani side.
The IP pipeline is designed to help Pakistan to overcome its growing energy needs at a time when the country of over 180 million people is grappling with serious energy shortages.
Pakistani Federal Minister for Planning Ahsan Iqbal said in early June that the new Pakistani government will continue the joint gas pipeline project with Iran, saying the issue of energy is Islamabad’s top priority.
By Press TV
The Iran Project is not responsible for the content of quoted articles.