Iran — Pakistan — India (IPI) Gas Pipeline

IRAN, PAKISTAN, INDIA, GAS, PIPELINE, IPI, IRANIAN, ISLAMABAD, INDIAN, FUELS, FUEL, ROUTE, BALOCHISTAN, GSPA, NIOC, ISGS, FINANCING, ZAMZAMA, TARIFF, SSGC, SNGPL, SINDH, SAWAN, PSES, PARTNERSHIP, NAWABSHAH, MW, MOU, MMCFD, MIANO, MARKET, MAKRAN, LNG, KM, JWG, INVESTMENT, HSFO, FUNDING, FINANCED, ECC, COMMISSIONING, COASTAL, BORDER, BCFD

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1 Project Brief i Iran-Pakistan-India (IPI) gas pipeline project was conceived in early nineties. However, the project could not take-off for various reasons including the new gas discoveries in Pakistan of Miano, Sawan and Zamzama, Indian concerns on pipeline security and Iranian indecisiveness on certain issues. ii The project was revived and bilateral Iran-Pakistan Joint Working Group (JWG) was constituted and the first meeting was held on December 29-30, 2003 in Islamabad. An MOU was signed on July 7, 2005 to include India in the Project. iii A Term Sheet was signed between Iran and Pakistan on November 16, 2005. The Term Sheet provided for gas supply of 2.1 billion cubic feet per day (Bcfd) for a period of 30 years. iv Initial gas price formula agreed in January 2007. The Economic Coordination Committee of the Cabinet (ECC) in April 2007 approved gas price formula subject to the condition that in case Iran offers a better price to India, the same would be applicable to Pakistan. v Pakistan held a number of separate bilateral meetings with Iran as well as with India and project issues like gas volumes, project structure, governing laws, pipeline route, principles of transport tariff and transit fee were deliberated upon in detail. vi The Federal Cabinet in its meeting dated 8th April 2009 cleared the project to enter into GSPA with Iran. Consequently, Presidents of both the countries signed the Inter Governmental Framework Declaration on 24th May 2009. On the occasion, ISGS from Pakistan and NIOC from Iran, initialed the GSPA. vii The Federal Cabinet in its meeting dated 3rd June 2009 approved the GSPA as initialed on 24th May 2009 and authorized to sign the GSPA. The GSPA was signed by ISGS from Pakistan side and NIOC from Iranian side on 5th June 2009 at Istanbul, Turkey. viii The project envisages to import 750 million cubic feet daily (MMcfd) of natural gas.2 Pipeline Route & Configuration ix Pakistan has to construct an 800-km pipeline from the border, traversing along the Makran Coastal Highway to connect with Pakistan’s existing gas transmission network at Nawabshah. A 42-inch diameter pipeline is planned to be built, which is estimated to cost US$ 1.25 billion, and will take around four (4) years to complete. First Gas flow is expected by the end of 2013.IPI Gas Pipeline Project Pipeline Route Map3 Project Economics/Benefits x A detailed analysis was undertaken to evaluate the economics of importing Iranian gas, at the revised price with alternative fuels (HSFO and LNG) for power generation. xi It was concluded that imported natural gas even at the revised price remains the cheapest and most suitable fuel for power generation. xii The project will support around 4,000 MW power generation capacity, which will help in overcoming the power shortage crisis. xiii The construction of pipeline will also create job opportunities in backward areas of Balochistan and Sindh.4 Project Financing xiv The Project is planned to be financed on Public Private Partnership basis. xv However, in view of the strategic nature of the project the GOP will hold controlling share in the pipeline company through investment by Public Sector Entities (PSEs)5 Project Implementation xvi Project feasibility study/FEED etc. is planned to be undertaken by gas companies and validated by an independent third party engineering and project management consultant to firm up the project costs and to subsequently approach the market for project financing/funding xvii The construction of pipeline shall be undertaken by Pakistan’s gas companies i.e. SSGC & SNGPL under the supervision of an international project management consultant who will provide construction & commissioning supervision and management of the project. xviii The physical construction on the pipeline shall start in 2010, and the first flow of gas is planned to be available in 2013.

http://www.isgs.pk/project_detail.php?project_id=6#

http://www.isgs.pk/images/energy/route_map_01.jpg

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http://upload.wikimedia.org/wikipedia/commons/c/c6/Iran-Pakistan-India.JPG

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