Saturday, August 05, 2006

Oil an Gas: India, Iran and Pakistan fail to agree on gas price

Differences over the price of natural gas to be imported through the Iran-Pakistan-India (IPI) continue - but the three parties have agreed to appoint an international consultant to look into the issue.

Petroleum Secretary M S Srinivasan told reporters after the talks between the three countries, "The three countries have agreed to appoint an international consultant to look into the pricing of gas."

The consultant would submit its report in one month's time, after which government officials would meet again in Tehran.

Pakistan Oil Secretary Ahmed Waqar said, "We are pursuing a bilateral (Iran-Pakistan) pipeline and a trilateral (IPI) pipeline in a parallel manner. If for any reason, India does not join the IPI project, Pakistan would go ahead with the bilateral project subject to the price being affordable".