Iran, Pakistan and India have agreed on a gas ''price formula'' on the basis of which Iran will supply gas to Pakistan and India through Iran-Pakistan-India (IPI) gas pipeline project.
The Indian daily, The Asian Age, quoting special representative of the Iranian Minister of Petroleum on IPI and Director of International Affairs in the Petroleum Ministry, Hojatollah Ghanimifard, said that the agreement, on inclusion of a price line in the contract, had been a major achievement in the last round of trilateral negotiations in New Delhi.
The three countries have reached understanding on most of the initially-identified 16 points of difference and only "five to six controversial paragraphs remain to be discussed," the daily quoting the Iranian representative said.
Indian Petroleum Minister Murli Deora is expected to visit Pakistan this month to sort out issues of gas duties between Pakistan and India for finalising the contract, the paper said. The Iranian Representative further said that the agreement on delivery point and the companies who will sign the contract has also been reached.