CNews TEHRAN: Iran and Pakistan have agreed to periodic revision of gas prices as part of a pipeline deal to carry Iranian gas via Pakistan to India, an Iranian news agency said on Tuesday, quoting the local export company.
"The two parties have agreed that each side submit its demands for gas price revision to the other side every three years, taking into account the situation on the international market," said a statement from the National Society for Gas Exports from Iran.
The two countries have also agreed on other terms, particularly dealing with "situations of force majeure and the law governing the agreement."
According to the statement quoted by the news agency, the Indian side -- opposed to a price review system -- may take part in future talks.
Late in September, Hojatollah Ganimifard, Iran's deputy minister in charge of the project said Iran and Pakistan had reached an agreement, in the absence of India, on the pipeline. He added that the two countries should meet in Pakistan in mid-October to approve a final version of the agreement, with a probable signing of the accord at the end of the month. Talks on the 7.4 billion dollar project to supply gas to India through a 2,600 kilometre (1,615 mile) pipeline began in 1994 but suffered from tensions between India and Pakistan. Talks resumed early in 2004 along with peace moves between India and Pakistan but have dragged because of New Delhi's opposition to periodic price reviews.
India has also come under US pressure not to be part of the project in what is seen as Washington's desire to punish Iran for its refusal to bow to demands to suspend its nuclear programme.
"The two parties have agreed that each side submit its demands for gas price revision to the other side every three years, taking into account the situation on the international market," said a statement from the National Society for Gas Exports from Iran.
The two countries have also agreed on other terms, particularly dealing with "situations of force majeure and the law governing the agreement."
According to the statement quoted by the news agency, the Indian side -- opposed to a price review system -- may take part in future talks.
Late in September, Hojatollah Ganimifard, Iran's deputy minister in charge of the project said Iran and Pakistan had reached an agreement, in the absence of India, on the pipeline. He added that the two countries should meet in Pakistan in mid-October to approve a final version of the agreement, with a probable signing of the accord at the end of the month. Talks on the 7.4 billion dollar project to supply gas to India through a 2,600 kilometre (1,615 mile) pipeline began in 1994 but suffered from tensions between India and Pakistan. Talks resumed early in 2004 along with peace moves between India and Pakistan but have dragged because of New Delhi's opposition to periodic price reviews.
India has also come under US pressure not to be part of the project in what is seen as Washington's desire to punish Iran for its refusal to bow to demands to suspend its nuclear programme.
