TEHRAN (Fars News Agency)- Iran Deputy Oil Minister Mohammad-Hadi Nejad Hosseinian arrived in Islamabad on Friday to discuss pricing of the gas formula of the over seven-billion-dollar Iran-Pakistan-India (IPI) gas pipeline project. Leading an eight-member delegation, Hosseinian will hold formal talks with Pakistan’s Secretary Petroleum Ahmed Waqar in the three-day visit.
Being received by senior Pakistani petroleum ministry officials, the Iranian Deputy Oil Minister said upon his arrival at Islamabad air port, “We will discuss pricing formula in talks. If we could not reach any agreement, then the issue will be discussed in oil ministers meeting in Tehran next month.”Â
He said Pakistan had sent a draft gas pricing formula to Iran based on domestic gas pricing mechanism and the Iranian delegation would discuss the same with Pakistani officials.
The Deputy Minister said, “I am hopeful that Iran, Pakistan and India will finalize all aspects of the project in two months.”
Iranian ambassador Muhammad Ibrahim Taheryan was also among other officials present at the airport.
Hosseinian will begin meetings with Pakistani officials later Friday.