Pakistan Hints at Renegotiating Iran Gas Price

Pakistan has hinted that it wants to renegotiate the gas price that it will get from Iran.

In an interview to Business Recorder, Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi said that, “We will talk to Iran to revise gas price as the option to reopen this aspect is available in the agreement. There is still time to renegotiate.”

The minister also said that issue of sanctions is also being discussed. . "We have requested the Ministry of Foreign Affairs to resolve the issue of sanctions because if Pakistan fails to procure gas from Iran from January 2015 we will have to pay $3 million per day as a penalty to Iran," Abbasi said. 

Foreign Ministry sources told Business Recorder that the issue of Iran-Pakistan gas pipeline has already been taken up with the US, and there is optimism that the issue will be resolved amicably.