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  • China to build two RLNG terminals at Gwadar
    08-Nov-2016

    ISLAMABAD: In a major development, Pakistan has managed to get the two RLNG terminals deal at Gwadar done with China. With the change of the mode from built, own, operate and transfer (Boot) to engineering procurement construction-financing (EPC-F), the country will be exposed to a mammoth saving of one billion dollars in 25 years just in the head of tolling fee.   The RLNG terminals w ...
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  • TAPI gas pipeline consortium plans roadshows in November
    15-Oct-2016

    ISLAMABAD: A long-delayed pipeline project from Turkmenistan to Pakistan and India via Afghanistan is in the final stages of financing, and investor roadshows are due to be held next month, a Pakistani official involved in the project said on Friday.   Originating at the giant Galkynysh gas field in Turkmenistan, the $10 billion TAPI (Turkmenistan, Afghanistan, Pakistan and India) pipe ...
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  • TAPI gas pipeline consortium plans investor roadshows in November
    14-Oct-2016

    A long-delayed pipeline project from Turkmenistan to Pakistan and India via Afghanistan is in the final stages of financing, and investor roadshows are due to be held next month, a Pakistani official said on Friday.   Head of Pakistan's state-owned Inter State Gas Systems (ISGS) Mobin Saulat told Reuters there was “significant progress” with the TAPI project and that in ...
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  • Management consultants for TAPI being shortlisted today
    27-Aug-2016

    Islamabad - The partner countries of Turkmenistan-Afghanistan-Pakistan-India (TAPI) pipeline project are meeting today (Saturday) in United Arab Emirates (UAE), which is also the main office of project, to shortlist the companies for the project management consultants, it was learnt reliably here.   The Interstate Gas System (ISGS) has received offer for the execution of Afghanistan po ...
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  • Pakistani gas company set to emerge as key player on world energy map
    14-Aug-2016

    ISLAMABAD: Inter State Gas Systems (ISGS), a company established by the government to work on gas import projects, is striving to secure energy resources to make Pakistan self-sufficient and it is expected to emerge as a key player on the world’s energy map after regional pipeline projects are executed. Pakistan is eyeing gas imports from countries holding vast deposits and has en ...
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After nuclear deal, Pakistan and Iran seek to increase trade

Pakistan is in the final stages of negotiating a deal to increase its electricity imports from Iran tenfold, a government spokesman said Tuesday, part of a push to boost trade if sanctions relating to Iran’s nuclear programme are phased out.

Pakistan’s trade with Iran, worth $1.3 billion in the financial year 2008-9, plummeted to $217 million dollars in the 2013-4 financial year.

The drop came after the United States, European Union and UN imposed sanctions aimed at halting Iran’s nuclear programme, which Western powers suspected was aimed at creating a nuclear bomb.

A deal reached last month means the sanctions could soon be phased out. US Senator Brian Schatz said on Monday he backs the US-led international nuclear deal with Iran, moving President Barack Obama one vote closer to locking in enough Senate votes to make the deal fly.

Read: China-funded LNG project to turn into Iran-Pakistan gas pipeline: petroleum minister

Iran currently exports around 100 megawatts (MW) of electricity to the areas of Pakistan that border Iran. Pakistan is in the final stages of negotiating a deal that will increase that to 1,000 MW, said Zafar Yab Khan, the spokesman for the Ministry of Water and Power.

“It’s likely to be finalised shortly,” he said. “The power purchase agreement would include a transmission line.” He declined to give details until the agreement is signed.

Energy-starved Pakistan suffers about 12 hours of power cuts per day and is keen to import Iranian oil and gas, said Robina Athar, additional secretary in Pakistan’s Ministry of Commerce.

“The biggest issue right now is the payment mechanism,” said Athar. “Both central banks are in communication and hope to find a mechanism before sanctions are lifted.”

Read: Nuclear deal will open up doors of Pakistan, Iran trade: Fatemi

She said Pakistan was upgrading its current border post with Iran and preparing to open a second one in anticipation of greater trade

Iran was interested in Pakistani textiles, surgical goods, sports goods and agricultural products, she said. Pakistan wanted energy products, iron and steel. She said that Pakistan would set up industrial sites in the impoverished border area, especially petrochemical storage, and link the infrastructure to a $46 billion project with China dubbed the China-Pakistan Economic Corridor.

Plans for a gas pipeline between Iran and Pakistan have also been given new impetus, said Mobin Saulat, head of state-run Inter State Gas Systems, which oversees the Pakistan’s pipeline network.

Most of the pipeline – stretching from Pakistan’s industrial heartland of Punjab to a planned terminal for liquefied natural gas at Gwadar port in the south – would be built as part of the Chinese project, Saulat said.