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March 28th, 2012 
FAKE NEWS for the Zionist agenda Speaking to reporters on Wednesday, Pakistan’s Petroleum Secretary Ijaz Chaudhry said a Pakistani delegation would hold talks in Moscow on April 2 and 3 to seek Russia’s financial assistance for the IP gas pipeline project.
He added that a Russian company has shown interest in the project investment, estimated in costs at USD 1.5 billion.
Pakistan decided to seek financing from Russia after the Industrial and Commercial Bank of China, a state-owned Chinese bank, which had agreed to finance the Pakistani section of the IP gas pipeline indicated that it was no longer interested in the project.
On March 23, The Express Tribune quoted unnamed Pakistani sources as saying that the decision to negotiate a deal with Russia came in a recent meeting of the sub-committee formed by the Economic Coordination Committee of the government.
During Pakistani Foreign Minister Hina Rabbani Khar’s four-day visit to Moscow in February, Russia had announced that it would fully finance the pipeline project if its energy giant Gazprom was awarded the contract without bidding.
Energy-hungry Pakistan is looking to increase its fuel imports from various sources, including Iran, to reduce power shortages that have crippled the country’s industry and shaved percentage points off its GDP growth.
Washington has frequently indicated its resentment at Iran-Pakistan gas pipeline project. An article published by the International Herald Tribune on January 25, said Washington is trying to lure Islamabad away from the Iran-Pakistan gas pipeline project by offering cheaper gas to the country.
The multi-billion-dollar gas pipeline aims to export a daily amount of 21.5 million cubic meters (or 7.8 billion cubic meters per year) of the Iranian natural gas to Pakistan.
The maximum daily gas transfer capacity of the 56-inch pipeline which runs over 900 km of Iran’s soil from Asalouyeh in Bushehr Province to the city of Iranshahr in Sistan and Baluchestan Province has been estimated at 110 million cubic meters.
SS/AZ/HGH
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