Iran and Pakistan have signed a ‘sovereign guarantee’ agreement for the supply of gas from Iran to Pakistan via the $US7.5 billion Iran – Pakistan (IP) gas pipeline project, according to the Tehran Times.
The newspaper said that the agreement was signed by National Iranian Oil Company Managing Director S.R. Kasaezadeh and Pakistan’s Ministry of Petroleum and Natural Resources Joint Secretary Irshad Kaleemi.
Under the gas sale and purchase agreement signed in May 2009, Pakistan will import 750 MMcf/d of gas in order to generate 4,000 MW of electricity, with a provision to increase deliveries to 1 Bcf/d.
The 900 km, 42 inch diameter IP Pipeline will run from the Assaluyen gas field in southern Iran to Pakistan. The pipeline is scheduled to become operational by 2015.
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