Iran offers oil on deferred payment: stopgap arrangement till operation of IP gas line

Iran has offered to Pakistan a stopgap arrangement for provision of crude and furnace oil on deferred payment to meet the energy crisis till the Iran-Pakistan (IP) gas pipeline project becomes operational, Business Recorder has learnt.
Sources said that the two sides are also making arrangements to sign Guarantee Agreement (GA) which would make Gas Sales Purchase Agreement (GSPA) effective to kick off the work on the IP gas pipeline. "Pakistan and Iran may sign GA in French Embassy here in Pakistan to be governed through French law," sources said.
The Ambassador of Iran to Pakistan, Mashaalah Shakeri, made the offer for stopgap arrangement, during his meeting with Minister of Petroleum and Natural Resources Naveed Qamar here on Tuesday and discussed progress made recently on matters pertaining to bilateral co-operation between the two countries in the energy sector, particularly the oil and gas import.
Sources said that Pakistan side had been informed that Iranian Petroleum Ministry was keen to provide oil to Pakistan on deferred payment. As regards sending a delegation to Iran, Naveed Qamar said that he had issued instructions to the Secretary Petroleum to form the best team of experts for Iran to be there not later than July this year.
"The Iranian Ambassador wants early visit of Pakistan''s delegation, but due to budget engagements, Pakistan desires the visit of delegation to Iran after budget is announced," sources added. The Minister asked the Secretary to identify areas of co-operation where they could work together to have a win-win situation for both the countries.
Meanwhile, according to a statement issued here, Naveed Qamar said that Pakistan attached great value to its long-standing relationship with Iran, the neighbour country being integral to meeting Pakistan''s energy needs. The upcoming landmark pipeline project will further foster the existing brotherly bonds between the neighbours, he added.
The Minister also conveyed to the Ambassador his appreciation for the Iranian Minister of Oil for taking keen interest in furthering relations between the countries and co-operation in the sector. Shakeri said that the visit was to follow up on the progress made in the aftermath of the meeting of the Minister with the Iranian Deputy Foreign Minister held earlier this month. He said that the Iranian Oil Minister was eagerly awaiting a delegation of oil and gas experts from Pakistan to visit Iran and discuss all possible co-operation in areas of mutual benefit in the oil and gas sector.
As regards sending a delegation to Iran, Naveed Qamar said that he had issued instructions to the Secretary to form the best team of experts for Iran to be there not later than July this year. The Minister asked the Secretary to identify the areas of co-operation where they could work together to yield a win-win situation for the countries. Secretary Petroleum and Natural Resources, Kamran Lashari, Additional Secretary P&NR, Ejaz Chaudhry, M.D. ISGSL and Naeem Sharafat also attended the meeting.