Tehran, November 08, 09 (Hamsayeh.Net) - Iran, Pakistan and India will resume their negotiations over a multi-billion dollar natural gas pipeline that would transfer Iran’s enormous reserves to energy-starved Southeast Asia, India's Petroleum and Natural Gas Minister Murli Deora told the Asian Age daily.

 

This is finally a good piece of news for both Pakistan and India after many years of negotiations. Iran and Pakistan already reached an agreement on gas pipeline transfer on June 4, 09 in Turkey. In spite of this, India has been concerned about the delivery route from Pakistan and seeks more assurances for the safety of the pipeline concerned.

 

Iran possesses the world’s second largest natural gas reserves at about 16% of the global reserves, second only to Russia. Although Iran’s share of export to international market is way below its potentials due to some geo-political factors including US’ constant interventions in the region.

 

The Peace Pipeline would run about 1200 km inside Iran, 700 km in Pakistan and 850 km in India. The project cost is estimated at 7 billion euros and need 5 years to become operational.