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Pakistan and Iran collaborate on IP pipeline and Pakistan Steel Mills

Iran's Ambassador to Islamabad, Reza Amiri-Moghaddam, announced that Iranian companies are ready to contribute to the construction of the Iran-Pakistan gas pipeline (IP) and the refurbishment of Pakistan Steel Mills.

Pakistan and Iran collaborate on IP pipeline and Pakistan Steel Mills

The Ambassador emphasized that the IP pipeline is a significant project that will help Pakistan overcome its energy crisis.

Pakistan's Prime Minister, Syed Murad Ali Shah, also stated that the completion of the pipeline would benefit Pakistan and assist in resolving the country's energy crisis.

Muhammad Kamran Khan Tessori, the Governor of Sindh, highlighted the potential of banking cooperation and joint gas projects in enhancing bilateral relations.

While Iran has completed its section of the pipeline within its territory, Pakistan has faced delays due to US sanctions and financial constraints. Both countries signed a revised agreement for the construction of the pipeline in 2019. Pakistan has finally approved the commencement of pipeline work within its territory to avoid further delays. The project is expected to be completed by September 2024.

Once completed, the IP pipeline will enable Pakistan to receive 750 million cubic feet of gas from Iran daily.

Analysts suggest that the project will enhance Pakistan's energy security and support regional industries by providing stable gas supplies.

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SteelRadar Insight - Sayı 1 (Haziran 2024)

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