The Express Tribune, October 28th, 2011.
ISLAMABAD: Dispelling impressions of external pressure Iran-Pakistan gas pipeline project, Petroleum Minister Dr Asim Hussain informed the Senate that it would be completed by 2013, one year ahead of schedule.
Hussain said, “First gas flow is targeted by the end of 2014.” The estimated cost is $1.5 billion, but it will be firmed up after completion of a bankable feasibility study. Initial information for financing the project has been exchanged with international investors from China, Russia and the Middle East, he added. The Turkmenistan gas pipeline project has also taken a great leap forward after nearly a decade and the gas supply and purchase agreement will be signed on November 15. Major components of the project including tender for pipes and compressors will be floated this month, said the petroleum minister.
He said the government would introduce a new petroleum exploration and production policy to provide additional incentives to investors for exploration of oil and gas in the country. These incentives, he added, would compensate for risk taken by companies for doing business in the present environment.