TEHRAN: Iran’s Oil Minister Bijan Namdar Zagnaeh broadcast on Wednesday that the country was expected to leave the multi-billion dollar pipeline task with Pakistan, Fars news bureau reported.
The Iranian Oil Minister notified reporters on the margins of a gas forum that “the agreement for supplying gas to Pakistan is expected to be annulled.”
Earlier this month, Pakistani Petroleum Minister Shahid Khaqan Abbasi inquired Iran for $2 billion (1.45 billion euros) to construct its edge of a contentious gas pipeline that has drawn risks of US sanctions.
Under those conditions, “it is appears unlikely to export gas” to Pakistan Zanganeh supplemented.
The Iranian edge of the $7.5-billion project is almost complete, but Pakistan has run into recurring problems giving for the 780 kilometre (485 mile) section to be constructed on its side of the boundary.
Iran actually produces round 600 million cubic metres (21.2 billion cubic feet) of gas per day, nearly all of which is consumed domestically. Its only foreign client is Turkey, which buys about 30 million cubic metres per day.