USD 80.5268

-0.16

EUR 93.3684

-1.09

Brent 66.42

-0.27

Natural gas 2.801

-0.01

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Pakistan, India and Iran Close to Agree on Long-awaited Pipeline

Pakistan is close to signing a pricing formula with India and Iran on building a much-delayed $7 billion

Pakistan, India  and Iran Close to Agree on Long-awaited Pipeline

Pakistan is close to signing a pricing formula with India and Iran on building a much-delayed $7 billion pipeline to bring gas from Iran to South Asia, Prime Minister Shaukat Aziz said on Sunday.

"We are very close to agreeing on tariff," Aziz told a gathering of oil and gas industry officials in Islamabad. "We are in a very advance stage and I think we are very optimistic."

The United States, at odds with Iran over its nuclear programme, opposes the pipeline project.

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