Pakistan and Iran have decided to make a 3rd agreement on IP gas Pipeline project despite the US sanctions and committed to complete this project till 2024
Islamabad (UrduPoint / Pakistan Point News / Online - 29th August, 2019) Pakistan and Iran have decided to make a 3rd agreement on IP gas Pipeline project despite the US sanctions and committed to complete this project till 2024.Iran has already withdrawn its notice it earlier issued in February2019 to Pakistan saying it is going to move arbitration court against Pakistan for not laying down the pipeline in Pakistan's territory in stipulated time under the IP gas pipeline project and threatened to invoke the penalty clause of Gas Sales Purchase Agreement (GSPA).However, under the latest scenario, Pakistan has told Iran that Islamabad fully acknowledged the rights of Tehran under GSPA about the IP gas line.
According to the media report under Iran, Pakistan Gas Pipeline accord the first flow gas has to start in 2015 but the owing to the sanctions on Iran project couldn't implemented.At present, legal teams of both sides are engaged whether gas transactions between the two countries invite the US sanctions are not.
Iranian side said that US curbs do not apply on gas supply. The area of Pakistan, Iran border is 1150 km, in which Pakistan has 781km and Iranhas completed its 900 km pipeline.
https://www.urdupoint.com/en/pakistan/pakistan-iran-keen-to-make-third-agreement-o-700728.html