Amid the lingering threat of sanctions, Pakistan has decided to offer an alternative plan to Iran, involving conversion of natural gas into Liquefied Natural Gas (LNG), a move that could all but shelve the Iran-Pakistan (IP) gas pipeline project.
According to The Express Tribune, the plan will be discussed with the Iranian authorities in an upcoming meeting in Tehran.
Petroleum Minister Shahid Khaqan Abbasi confirmed that the proposal of gas import in the form of LNG was under study and would be discussed with Tehran.
Under the new plan, Iran will convert natural gas into LNG and then export it to Pakistan by using terminal facility of Oman. Already, Iran and Oman have signed an agreement, according to which Oman will purchase around $60 billion worth of natural gas from Iran in the next 25 years, with the project stipulating the laying of a $1 billion gas pipeline across the Gulf to Oman.
Around 50% of the gas, which Iran will export to Oman, will be delivered to Japan, South Korea and India.
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MNA
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