• Monday, July 6, 2020

Iran ends cooperation agreement with Pakistan

Discussion in 'Pakistan Economy' started by StormShadow, Oct 18, 2014.

  1. StormShadow

    StormShadow SENIOR MEMBER

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    ISLAMABAD: Iran has unilaterally ended the government-to-government cooperation agreement with Pakistan, and after this decision the much-talked-about Iran-Pakistan IP gas pipeline project has become unfeasible, sources told Daily Times.
    A copy of official documents seen by Daily Times disclosed that the Ministry of Petroleum and Natural Resources on October 2 revealed to the federal cabinet’s ECC that Iran has unilaterally ended government-to-government cooperation agreement with Pakistan and is not even prepared to offer $500 million for the construction of the long-awaited IP gas pipeline project. With this decision the IP gas pipeline project, in its present form, has become not feasible.
    According to an agreement signed earlier between the two countries for the supply of natural gas to the country, Pakistan had been made bound to purchase gas from Iran till December 2014. Pakistan would pay one million dollars per day as penalty to Iran in case of its failure to purchase the Iranian gas. It has also been told to the ECC that Inter State Gas System; a company of petroleum ministry has issued a notice to Iran on IP gas pipeline project. The ISGS has claimed forced majeure on the basis of international sanctions on Iran, while under the forced majeure it has become unfeasible for Pakistan to work on the said gas import project. A clause of forced majeure has been included in the IP agreement, Petroleum Ministry informed the ECC meeting. Officials in the Petroleum Ministry believe that if sanctions on Iran are lifted in the future, Pakistan would have to ink a new agreement with Tehran for the purchase of Iranian gas to meet its energy demands. “Force majeure has been claimed under the IP gas line project,” a source said.

    Iran ends cooperation agreement with Pakistan
     
  2. Green Arrow

    Green Arrow SENIOR MEMBER

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    Confrontational approach between the two countries will not be helpful for this region.
     
  3. cb4

    cb4 ELITE MEMBER

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    Its better to avoid dealing with a country that is sanctioned and aggressive

    We have plenty other options on the table.

    - The TAPI Pipeline (Turkministan-Afghanistan-Pakistan-India)

    - LNG deal with Qatar which will develop terminals in Gwadar and Karachi

    - The extraction of domestic Shale Oil and Gas currently valued world's 7th largest in reserves.
     
  4. Capt.Popeye

    Capt.Popeye ELITE MEMBER

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    What is going on? Mortar Fire across the Iran-Pakistan Border, one PA soldier gets killed, economic co-operation agreement ends.
     
  5. unbiasedopinion

    unbiasedopinion SENIOR MEMBER

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    Just wondering what was the reaction of Pakistani members where when India walked out of this project!!! Every pakistani member was blaming and abusing India , now the tables have turned again and it is proved that Indians took that decision with a vision and it was under a well thought process, not under the pressure.

    BTW, India is still buying oil from Iran, so it was specific to gas pipeline only.
     
  6. waz

    waz SENIOR MODERATOR

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    Yes, plenty of other options.

    It should be us who is angry. But anyway, it's their decision.
     
  7. Shadow_Hunter

    Shadow_Hunter BANNED

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    Why is Iran cancelling IP? Won't they get free dollars if Pakistan fails to make its share of pipeline?
     
  8. farhan_9909

    farhan_9909 PROFESSIONAL

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    I believe it was already done in december last year.
     
  9. abdulrauf akhtar

    abdulrauf akhtar FULL MEMBER

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    Pakistan is not behaving properly and it's dangerous !
     
  10. Thorough Pro

    Thorough Pro ELITE MEMBER

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    Iranians are behaving like immature idiots.
     
  11. rockstar08

    rockstar08 BANNED

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    good .... for now the relationship is under rust
     
  12. KingMamba

    KingMamba ELITE MEMBER

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    LNG from Qatar is supposedly really pricey.

    Sad news but it seems both sides are pissed af against one another.
     
  13. JonAsad

    JonAsad ELITE MEMBER

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    Iranians are stupid retards- we have to put them in their place-

    Khomeni k chelay iran bhaag ja-
     
  14. halupridol

    halupridol SENIOR MEMBER

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    yes,it is dangerous,,,a strong message being sent to Pakistan
     
  15. AZADPAKISTAN2009

    AZADPAKISTAN2009 ELITE MEMBER

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    No problem government will sort this out