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60 percent of Iranian section of Peace Pipeline constructed

TEHRAN, March. 10 (ISNA)-Sixty percent of the Iranian section of Peace Pipeline project has been constructed.

The Iranian section of the pipeline running over 902 kilometers is being constructed and 66 percent of the required pipelines were built.

The Iran-India gas pipeline better known as the Peace Pipeline is a proposed 2,775 kilometer gas pipeline to deliver Iran's natural gas to Pakistan and India.

The project costing over 7 billion dollar would take three to five years to be completed and is expected to benefit both India and Pakistan, which are not possessing sufficient natural gas reserves to meet their rapidly growing energy needs.

The pipeline would deliver 3.2 billion cubic feet of Iranian natural gas to Pakistan and 2.1 billion cubic feet of the gas to India each day by 2011.

Also the foreign minister's deputy for economic affairs declared Iran is ready to sign Peace Pipeline agreement as soon as possible.

Iran is sure the contract will be signed if all parties involved make the final decision; Mohsen Talaei said adding they are seeking to find a balance point for the price and transition rate.

... Payvand News - 03/10/08 ... --

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