Pakistan eyeing foreign investment in IP gas pipeline

Pakistan eyeing foreign investment in IP gas pipeline

Pakistan’s Ambassador to Tehran Noor Muhammad Jadmani said third parties are more serious to finance pipe-laying costs in Pakistan to import gas from neighboring Iran following the nuclear agreement between Tehran and P5+1 group of world powers.

The envoy said the Chinese firms which undertook finance arrangements from Nawabshah in Sindh province to Gwadar Port in Balochistan province will start laying the gas pipeline soon, NIGC revealed in its statement.

Referring to the sanctions against Iran which undermined Pakistan’s share in implementing construction of the IP project, the envoy said in the wake of nuclear Joint Comprehensive Plan of Action (JCPOA) and the prospects for removal of threats and pressures, it will be easier to find foreign partners to complete the project after sanctions relief.

He also said there is the possibility of using Iranian expertise for launching joint exploration initiatives in Pakistan’s gas sector.

Despite hydro-electric and nuclear energy resources, Jadmani said, Pakistan is energy thirsty and counts on Iran’s support and cooperation.

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