Pakistan makes fresh offer to Iran over IP gas pipeline project

Pakistan makes fresh offer to Iran over IP gas pipeline project
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ISLAMABAD: Pakistan has made fresh offer to Iran for talks over the Iran-Pakistan gas pipeline that was earlier abandoned by the government.

A senior official at Petroleum Division (Ministry of Energy) said relevant quarters have been extended an invitation in Tehran to pay a visit to Islamabad in current months before coming of Ramazan and hold talks on the IP gas pipeline project, reported *The News.*

He shared the Prime Minister Shahid Khaqan Abbasi had instructed the Petroleum Division to send an invitation to Iranian authorities for negotiating regarding the IP pipeline project.

Pakistan is facing another international arbitration case as Iran threatened to take the country to The Hague for unilaterally shelving the Iran-Pakistan gas pipeline.

Iran is invoking the penalty clause of the gas sales purchase agreement (GSPA) signed between the two countries in 2009*.*

It was reported at end of February 2018 that Iran sought $1.2 billion in damages as per the penalty clause from January 1, 2015. As per the agreement, if Pakistan didn’t take gas supplies from Iran , it is bound to pay a fine of $1 million per day, a top official of Petroleum Division said.

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