https://sputnikglobe.com/20240129/iran-may-collect-18bln-from-pakistan-for-delays-in-gas-pipeline-construction--reports-1116462891.html
Iran Could Impose $18Bln Fine on Pakistan Over Gas Pipeline Construction Delay
Iran Could Impose $18Bln Fine on Pakistan Over Gas Pipeline Construction Delay
Sputnik International
Iran may demand that Pakistan pay an $18 billion fine if Islamabad fails to make progress on a gas pipeline project between the two countries within the deadline, which Tehran has extended by 180 days to September 2024, Pakistani newspaper The News reported on Monday, citing senior government officials.
2024-01-29T09:42+0000
2024-01-29T09:42+0000
2024-01-29T10:05+0000
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If Islamabad fails to fulfill its obligations, Tehran plans to appeal to the International Court of Arbitration in Paris to collect the money, the officials said. An Iranian team of technical and legal experts was previously scheduled to arrive in Pakistan on January 21 for talks to resolve the pipeline issue, but the negotiations were canceled due to recent tensions between the two countries, the news outlet reported. Now, Iranian experts are expected to arrive in Islamabad in the second week of February. The Iran-Pakistan gas pipeline project has been facing delays since 2014. In late 2022, Iran asked Pakistan to build part of the Iran-Pakistan gas pipeline project on its territory by February-March 2024 or be ready to pay a fine of $18 billion. Prior to this, in February 2019, Tehran sent a notice to Islamabad about the failure to lay its part of the pipeline on time and threatened to go to the arbitration court in Paris and apply penalties in the gas purchase agreement, which was signed in 2009 for a period of 25 years. Pakistan claims that it cannot implement the project on its territory due to US sanctions imposed on Iran. The gas purchase agreement between Iran and Pakistan was signed in accordance with French law, and the International Court of Arbitration in Paris reportedly does not recognize US sanctions.
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iran pakistan relations, iran pakistan gas pipeline, gas pipeline constraction, iran may force pakistan to pay fine
iran pakistan relations, iran pakistan gas pipeline, gas pipeline constraction, iran may force pakistan to pay fine
Iran Could Impose $18Bln Fine on Pakistan Over Gas Pipeline Construction Delay
09:42 GMT 29.01.2024 (Updated: 10:05 GMT 29.01.2024) MOSCOW (Sputnik) - Iran may demand that Pakistan pay an $18 billion penalty if Islamabad fails to make progress on a gas pipeline project between the two countries within the deadline, which Tehran has extended by 180 days to September 2024, The News, a Pakistani publication, reported on Monday, citing senior government officials.
If Islamabad fails to fulfill its obligations, Tehran plans to appeal to the International Court of Arbitration in Paris to collect the money, the officials said.
An Iranian team of technical and legal experts was previously scheduled to arrive in Pakistan on January 21 for talks to resolve the pipeline issue, but the negotiations were canceled due to recent tensions between the two countries, the news outlet reported. Now, Iranian experts are expected to arrive in Islamabad in the second week of February.
The
Iran-Pakistan gas pipeline project has been facing delays since 2014. In late 2022, Iran asked Pakistan to build part of the Iran-Pakistan gas pipeline project on its territory by February-March 2024 or be ready to pay a fine of $18 billion. Prior to this, in February 2019, Tehran sent a notice to Islamabad about the failure to lay its part of the
pipeline on time and threatened to go to the arbitration court in Paris and apply penalties in the gas purchase agreement, which was signed in 2009 for a period of 25 years.
Pakistan claims that it cannot implement the project on its territory due to US sanctions imposed on Iran.
The gas purchase agreement between Iran and Pakistan was signed in accordance with French law, and the International Court of Arbitration in Paris reportedly does not recognize US sanctions.
