| Location | Iran-Pakistan-India - IR | |
 | Investment | 7,000,000,000 USD |
| Announced | 2/15/2002 |
| Completion | 12/15/2015 |
| Scope | Iran-Pakistan-India (IPI) pipeline project (also called peace pipeline) was aimed at constructing a 1,620-mile (2700 km) pipeline from Iran's South Pars fields in the Persian Gulf to Pakistan's major cities of Karachi and Multan and then further to Delhi, India. Because of Iran is the most geographically convenient supplier of gas to both countries; Iran is offering to cover 60 percent of the construction costs of the pipeline. The total length of 2700 km project would run 1100 km in Iran and 1000 km to Pakistan and in case of agreement with India it will continue 600 km in Indian Territory. This project is expected to greatly benefit India and Pakistan, which do not have sufficient natural gas to meet their rapidly increasing domestic demand for energy. A land-based pipeline would be four times cheaper than any other option, even after taking into account transit fee payments to Pakistan. Pakistan could earn about $200-$500 million annually in transit fees from the pipeline and also would be able to purchase natural gas from the pipeline. The pipeline can carry 110 million cubic meters of gas a day. 50Mln cm meets domestic needs of Iran and the remaining 60Mln cm will go to Pakistan. Iran will initially transfer 30 million cubic meters of gas per day to Pakistan, but will eventually increase the gas transfer to 60 million cubic meters per day. |
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| Development Milestones |
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| 2/21/2009 | Iran has increased the price of natural gas it plans to sell to India through Iran-Pakistan-India pipeline to USD 7.2 per mBtu, which makes it the most expensive fuel in the country as of date. Besides, India would have to pay USD 1.1-1.2 per mBtu in transportation cost and transit fee for wheeling the gas through Pakistan, making it the costliest gas in the country, so India had lost interest in the project because it considered that the price proposed by Iran was too high. |
| 3/21/2009 | Economic Coordination Committee (ECC) of the cabinet approved a rationalised gas import price equivalent to 80 percent of the international crude oil price, removing the final obstacle in the $7.8 billion gas pipeline project with Iran. |
| 4/9/2009 | Pakistan Federal Cabinet accorded approval to the construction of Pakistan-Iran gas pipeline and gave the go ahead for purchase of 750 million cubic feet gas from Iran to fulfill the growing local requirements. |
| 5/25/2009 | Iran and Pakistan signed an initial agreement for a USD 7.5bn Iran-Pakistan-India gas pipeline. |
| 6/5/2009 | Iran-Pakistan gas pipeline project has been formally signed in Istanbul. The agreement was signed between National Iranian Gas Export Company (NIGEC) and Pakistani Interstate Gas Company (PIGC). |
| 8/11/2009 | 900 km out of 1100 km in Iran has been constructed, with a cost of $700 m. |
| 1/23/2010 | Iran and Pakistan have resolved all issues concerning the long pending IPI pipeline and both the countries are likely to sign a deal soon. |
| 3/17/2010 | Iran and Pakistan have signed a deal paving the way for construction to start on the IPI gas pipeline. Under the terms of the deal, Iran will supply 750 million cubic feet a day of gas to Pakistan for 25 years. |
| 3/30/2010 | China has expressed its keen interest to invest of $2.5 billion in Iran - Pakistan Gas pipeline, it is interested to extend the Gas Pipeline Project into its area. |
| 3/31/2010 | India proposed dialogue with Iran to discuss impediments in implementation of the Iran-Pakistan-India (IPI) gas pipeline. India has been boycotting formal talks on the project since 2007 over security concerns. |
| 4/11/2010 | Designing and construction of remaining part of the Iranian sector of Peace Pipeline will start as of May 2010. The 900 km, 42 inch diameter (IP) gas pipeline will run from the Assaluyen gas field in southern Iran to Pakistan. Requiring a total investment of $US 3.2 billion, the IP pipeline will have a capacity of 750 MMcm/a. |
| 5/16/2010 | India has invited Iran for resumption of dialogue on the long discussed IPI project but Tehran is yet to respond. India has proposed a meeting of India-Iran Joint Working Group between May 23-28 in New Delhi but Tehran has not yet confirmed the dates. |
| 5/28/2010 | Iran and Pakistan signed a "sovereign guarantee" agreement paving the way for the completion of Iran-Pakistan Gas Pipeline. The groundwork of the project would start soon, as the paper work had been completed. |
| 6/13/2010 | Iran and Pakistan formally signed a deal, which commits the Islamic republic to supplying its eastern neighbor Pakistan with natural gas from 2014. |
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