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Oil minister: Iran, Pakistan agree on Peace Pipeline gas price

Assalouyeh, Bushehr prov, Feb 5, IRNA - Iranian Oil Minister Kazem Vaziri Hamaneh said on Monday that Iran and Pakistan reached agreement on the final sale price of the gas to be transferred through Peace Pipeline.

Speaking to reporters in the town of Jam in this southern province, he said that trilateral talks on the gas price and pricing formula proposed by the consulting company in charge were held recently in Tehran with participation of deputy ministers of oil and energy from India and Pakistan respectively as well as representative of Iran's Oil Ministry.

The minister said that the Indian deputy oil minister agreed with the suggested formula, but asked for a month-long time to declare his country's final decision.

He said that meanwhile, Peace Pipeline should also be discussed by Pakistan and India, given that it will cross through both countries.

"The Indian official said that the proposed gas price cannot be finalized, unless the issue is negotiated between India and Pakistan," he added.

Vaziri Hamaneh said that Pakistan and India are expected to discuss the issue in the coming two weeks.

In response to a question about exploitation from Iran-Qatar joint gas field, he said that two third of South Pars reservoir belongs to Qatar and the rest belongs to Iran.

Underlining that at present Iran and Qatar get equal shares from South Pars gas field, he noted that development of this field is due to take place in 28 phases.

"Agreements have not yet been signed on six phases of South Pars gas refinery. Talks are currently underway to hold a tender for the remaining six phases," he added.

The minister said that in oil and gas sector, first priority is given to exploitation from fields shared with with other countries, "However, this does not mean that once joint fields are developed, we will not work on domestic fields," he said.

... Payvand News - 2/5/07 ... --

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