Pakistan Section of IP Pipeline May Take Two Years

The Pakistan section of the Iran-Pakistan (IP) gas pipeline will take two years to complete, Pakistani Minister of State for Petroleum and Natural Resources Jam Kamal Khan stated.

The final deadline for completion of the pipeline is December 2014, after which Pakistan will have to pay a penalty for each day of delay.

“As per IP agreement, $3 million penalty will be imposed on Pakistan per day for not laying the pipeline with the stipulated time,” Jam Kamal Khan added, according to Tehran Times. 

On February 20, the construction of the Pakistan section of the IP gas pipeline started in the presence of oil ministers of the two countries.

Iran has already constructed more than 900 km of the pipeline on its soil.