Iran : According to Iran’s semi-official news agency billion dollar Iran-Pakistan gas pipeline project is likely to be canceled. Faras News Agency on Wednesday quoted Iranian Oil Minister Bajan Hamdarr Zangnah said in a report that Iran is considering withdrawing from the project.
He said during the Gas forum in Tehran that there is possibility that this plan with Pakistan may be in risk. ‘However, he has not provided more information. The project has nearly completed by the Iran but Pakistan just could not do enough in this regard. U.S. pressure and lack of funds are the main reasons that this project could not be started as it should be.
Seven billion dollars half part of the project has already been completed by Iran, but the border with Pakistan continues to build a seven hundred and Eighty kilometer section is having problems. Experts say Pakistan’s request for a long-delayed project is another shock.
Such states or institutions that invest in Iran’s oil and gas projects, the U.S. sanctions law will be automatically apply on this so these threats from United Stated of America and United Nations Restrictions have stopped global investors to invest on this Project.
Before this on Annual Meeting of The World Bank and IMF in Washington, Iranian Foreign Minister Met Ishaq Dar in which restrictions and trade between both countries was also discussed.
Last month Pakistani Prime Minister Nawaz Sharif said in an interview with the Wall Street Journal that the project will continue despite U.S. objections.