As a major step towards fructifying the $4.16 billion Iran-Pakistan-India gas pipeline, both India and Pakistan have decided to appoint financial consultants by September 15.
At the end of the two-day meeting of the joint working group, Pakistani oil secretary Ahmed Waqar said: "This project is essential for sustainable and affordable energy for both the countries and for meeting the requirement of high economic growth rate."
He said the JWG has laid down a framework for further negotiations on the project.
Indian petroleum secretary S C Tripathi said the two sides had broad agreement on composition of gas, technical standards and techno-economic considerations that would make the project cost-effective for both the countries.
Ahmed Waqar said Pakistan was looking at importing 10 million standard cubic metres per day of gas from Iran beginning 2010 and increase it up to 60 million standard cubic metres per day over the next five years.
India on the other hand will begin with 60 MMS CMD of gas and increase imports to 90 MMS CMD in three years time.
Asked about United States' reservations on the project Waqar said: "Our President and prime minister have stated on number of occasions that we would take a decision on what our public interest would demand."
The two sides will appoint separate consultants who besides suggesting the project structure would also do a pre-feasibility study of the 2,600 kilometre long pipeline project to be built by 2009-10, government sources said.
The consultants will submit their report by November-end when Petroleum Minister Mani Shankar Aiyar will travel to Pakistan for inking an agreement on the project, government sources said.
The consultants would also suggest commercial, legal, contractual and the way the project should be financed, sources said adding this was decided at the two-day joint working group meeting which ended on Wednesday.
The JWG would meet again in August to thrash out issues of safety and security of the pipeline before the summit between Aiyar and his counter part in Pakistan.
The sides want the project to get off the ground by early 2006.
