STAFF REPORT IBD: Iran has declared its readiness to export 80,000 barrels per day (bpd) of crude oil to Pakistan in addition to offering $250 million in loan for the construction of the Iran-Pakistan (IP) gas pipeline project.
Minister of Oil and Natural Resources Asim Hussain has informed the Iran has also offered to undertake various stages of planning, engineering, supply of pipeline, and building compressor stations in the IP gas pipeline project.
It is to be mentioned here that Islamabad is currently in negotiations with many countries which may be able to help Pakistan with the construction of the pipeline.
Despite Washingtons pressures on Islamabad to halt the project, Pakistani said has reiterated that its ties with Iran would not be “undermined” by any international pressure.
The multi-billion-dollar gas pipeline aims to export a daily amount of 21.5 million cubic meters (or 7.8 billion cubic meters per year) of the Iranian natural gas to Pakistan.
The maximum daily gas transfer capacity of the 56-inch pipeline which runs over 900-km of Iran’s soil from Asalouyeh in Bushehr province to the city of Iran city Sistan and Baluchestan province has been estimated to be 110 million cubic meters.