Pakistan Cabinet OKs Iran-Pakistan-India Gas Pipeline Deal

The Pakistani Cabinet Tuesday approved the Iran-Pakistan-India gas pipeline agreement, an official statement said.

The cabinet gave its approval to the planned gas purchases, a government guarantee, gas sales to local supply companies and taking additional gas if India doesn't join the pipeline project, it added.

The cabinet also recommended making a formal request to the Iranian government to allocate an additional volume of 1.05 billion cubic feet of gas a day to Pakistan if India doesn't participate.

Pakistan is considering two routes for the pipeline - one from Quetta to Rahim Yar Khan and the other would connect Sukkar and Karachi.

Pakistan's part of the pipeline is likely to cost between $2.7 billion and $3 billion, ranging from 700 kilometers to 1,050 kilometers.

Iran and Pakistan estimate the project is likely to start by mid-2008 and be completed by 2012.

Copyright (c) 2008 Dow Jones & Company, Inc.


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