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situation report

Jul 17, 2014 | 13:20 GMT

1 min read

Pakistan: Iran To Seek Penalties For Pipeline Delay

Iran rejected a Pakistani request to delay the Dec. 31 deadline for the completion of the Pakistan-Iran natural gas pipeline, Iranian Minister of Petroleum and Natural Resources Shahid Khaqan Abbasi said, the International News reported July 17. Iran had originally offered to provide $500 million in financing to Pakistan, but revoked the offer due to economic difficulties. According to the contract, Pakistan will have to pay a $2 million per day penalty starting Jan. 1, 2015.

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