Iran inaugurates new cross-country gas pipeline

Last Updated: Tuesday, August 24, 2010 - 18:01

Tehran: Iran has operationalised the first
phase of the proposed Iran-Pakistan gas pipeline, a USD 1.7
billion project from which India has backtracked.

The project, which is Iran`s 7th cross-country gas
venture is regarded as the first phase of the proposed
Iran-Pakistan gas pipeline.

The pipeline, which extends 902 kilometers from
Assalouyeh in the southwest of Iran to Iranshahr in the
southeast will transfer natural gas from the South Pars gas
field to some of Iran`s southern provinces.

First Vice President Mohammad-Reza Rahimi and Oil
Minister Masoud Mirkazemi attended the inauguration ceremony
here yesterday.

The second section of the pipeline, which is to be about
400 kilometers in length, will be established by Iran`s
Khatam-ol-Anbia Construction Headquarters at a cost of 200 to
250 million dollars.

Iran, Pakistan, and India conceptualised the project in
the 1990s to promote peace and increase security in the
region.

Due to tense India-Pakistan relations, New Delhi stepped
back from the later stages of negotiations, although it has
never formally withdrawn from the project.

The IPI gas pipeline is a proposed 2,775-kilometer
pipeline for delivering natural gas from Iran to Pakistan and
India, though the signature of a final deal agreement has been
delayed several times over price and political issues.

Iran`s proven natural gas reserves stand at about 1,000
trillion cubic feet, of which 33 per cent is located in
associated gas fields and 67 per cent in non-associated gas
fields.

Iran has the world`s second largest reserves of natural
gas after Russia.

PTI



First Published: Tuesday, August 24, 2010 - 18:01

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