The two countries will work together to find a viable solution to the project. Furthermore, Pakistan can build the IP pipeline until the year 2024 for buying 750 million cubic feet of natural gas per day (mmcfd) from Iran, Dunya News reported.
The construction work on the Pakistani section of the pipeline was inaugurated in March, 2013, and it was planned to be completed within 22 months.
The Iran-Pakistan gas pipeline, also known as the Peace pipeline, or IP, is a 2,775-kilometer pipeline to deliver natural gas from Iran to Pakistan.
The Iranian section of IP project is known as Iran’s Seventh Cross-Country Gas Pipeline. The first 902-kilometer part of this section runs from Asalouyeh to Iranshahr.
The second 270-kilometer part runs from Iranshahr to the Iran-Pakistan border.
Pakistani Prime Minister Imran Khan said in May that his country is keen to complete the construction of the pipeline designed for receiving Iran’s natural gas.
Pakistani media reported that Khan had issued fresh directives to relevant Pakistani authorities on the completion of the Iran-Pakistan gas pipeline.
The prime minister said Tehran and Islamabad should work jointly and review the agreed price of the gas and also complete the project.
Khan further described the sanctions against Iran as the biggest hurdle for the implementation of the megaproject.
While Iran has completed its part of the gas pipeline project with a total investment of over $2 billion, Pakistan has fallen behind the target to take delivery of the gas.