India, Pakistan resume talks on IPI project

April 25th, 2008 - 5:31 pm ICT by admin  

Islamabad, April 25 (Xinhua) Pakistan and India Friday resumed talks here on the multi billion-dollar Iran-Pakistan-India (IPI) gas pipeline project. Khwaja Asif, Pakistan’s minister for petroleum and natural resources, and his Indian counterpart Murli Deora would try to resolve the issue of transit fees during their talks, the News Network International news agency reported.

Deora admitted that there were differences over the transit fees to be charged by Pakistan for the Iranian gas to be transported through its territory to India.

He was hopeful that these issues would be resolved and the project would be implemented according to the established international practices.

The two ministers Thursday said they were keen on the IPI project.

The proposed gas pipeline project would cover 2,775 km. The project is expected to take three to five years to complete at an estimated cost of $7 billion.

The project will benefit both India and Pakistan and is expected to meet their growing energy needs.

India would require nearly 400 million cubic meters of gas per day by 2025, up from 90 million cubic meters per day in 2005.

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