The project would carry natural gas more than 2,500 kms (1,562 miles) from Iran to India. Work could begin as early as next year. But there is disagreements about how much India and Pakistan should pay. The pipeline would be a huge boost for energy-starved India, which currently produces only half of the gas it needs.
And the country's energy demands are expected to double within the next 15 years. The pipeline would also bring financial benefits to Pakistan, earning the country millions of dollars in transit fees. Earlier in May, talks between the three nations failed due to disagreement on the price of the gas. India wants to pay a fixed amount per unit delivered to its border. But Iran says the price being offered by India and Pakistan is half of what it is looking for and wants the cost to be linked to fluctuating international energy prices.
If these issues can be resolved work could begin by the end of next year. The US had earlier opposed the project because of the financial and strategic benefits it would bring to Iran. But during a visit to Pakistan in March this year, President George Bush indicated that the US had dropped its staunch opposition to the pipeline. Mr Bush said he understood the need for natural gas in the region and that the US argument with Iran was over nuclear weapons. The project is estimated to cost $6bn.
Source: BBCLast Mod: 20 Eylül 2018, 18:16