ISLAMABAD (updated on: February 23, 2007, 21:47 PST): Pakistan and India have agreed to complete necessary documentation to meet target of finalising an agreement on Iran-Pakistan-India (IPI) Gas Pipeline Project by June this year.
"We have agreed to complete documentation and we will be able to sign the final document by June, 2007," Secretary Petroleum Ahmed Waqar told a press conference at the end of two-day 4th bilateral meeting of Pakistan-India Joint Working Group on IPI Gas Pipeline Project here.
India's Secretary Petroleum and Natural Gas, M.S. Srinivasan and General Manager Gas Marketing and Sales, National Iranian Gas Export Company (NIGEC), Fattah Bayatani were also present.
Ahmed Waqar said: "We are committed to this project in our national interest and for our growing energy needs."
He said the government is also looking at other options including the import of Liquefied Natural Gas (LNG).
The Indian Secretary Petroleum and Natural Gas also expressed commitment of his government to the project, saying "we need energy."
Responding to a question, Ahmed Waqar said the estimated cost of the project is around $ 7 billion.
About route of the pipeline he said, "We are still in process to determine the route."
Regarding certification of gas reserves in Iran, he said the Iranian side has given technical assurance about availability of gas for more than 40 years."
About the progress during the meeting, he said there was in-depth discussion on various important aspects of the trilateral project including gas volume sharing, transportation tariff, transit fee, joint declaration, intergovernmental agreement, gas sales and purchase agreement, project structure, appointment of a project co-ordinator and project feasibility study.
Ahmed Waqar informed that both sides have agreed on a work plan with a view to completing the documents in time for finalising the aforementioned agreements by the middle of this year.
The road-map includes a number of technical sub-groups' meetings in the run-up to the next trilateral Joint Working Group (JWG) meeting expected to be held in Islamabad in May 2007 to review progress on the targets, he added.
He said discussions were held in a cordial atmosphere and both the delegations and Iran, underlined their governments' commitment to the project on a trilateral basis to help promote regional co-operation.
Both sides expressed their intention to be guided by international best practices and standards in realising the project, he added.
Copyright APP (Associated Press of Pakistan), 2007
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