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News number: 8803091026

15:18 | 2009-05-30

Economy

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Pakistan Calles Gas Deal with Iran Guarantee for Development

TEHRAN (FNA)- A leading Pakistani gas association announced that the recent gas deal between Tehran and Islamabad will ensure future development of the south Asian nation.



"Finalization of the Iran-Pakistan pipeline project will greatly help secure Pakistan's future economic growth and development," spokesman of the Liquid Petroleum Gas Association of Pakistan (LPGAP) Fasih Ahmed said.

Iran and Pakistan signed a deal last Sunday for laying of a pipeline to transfer Iran's gas to Pakistan.

The deal was signed on the sidelines of a tripartite summit on Afghanistan security in Tehran. President Mahmoud Ahmadinejad and his Pakistani counterpart signed the contract and exchanged views on it.

"This is a welcoming investment in our collective future and regional peace," Fasih Ahmad said.

The LPGAP spokesman reiterated that the current natural gas deficit is impeding economic and industrial growth, and hampering long-term planning.

It is expected that natural gas imported from Iran will be exclusively used to generate 5000 megawatts of electricity in the country.

Fasih Ahmad further noted that almost 50 percent of Pakistan's energy mix is based on natural gas, which covers households, industries, power plants and automobiles.

According to initial schemes, the 2,700 kilometer long pipeline was to transfer Iranian gas to India via Pakistan.

It was predicted that some 1,100 kilometers of pipelines would be laid in Iran's territory, 1000 kilometers in Pakistan and 600 kilometers in India.

The project is to transfer some 150 million cubic meters of gas per day.

Construction of the 56 inch thick pipeline is to be completed in five years.