Iran, Pak agree on gas price to India

AGREEMENT AT LAST: Iran and Pakistan have agreed on price of gas that Iran plans to transport.

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Tehran: Iran and Pakistan have agreed on the price of gas that Iran plans to transport to Pakistan and India, state-run media reported today.

The preliminary agreement on the gas price was announced by Iran's Oil Minister Kazem Vaziri Mahaneh as Pakistani President Pervez Musharraf held talks with his Iranian counterpart in Tehran.

"Agreement has been reached over the price of gas through the peace pipeline," the official Islamic Republic News Agency quoted Mahaneh as saying.

No other details were provided about the deal, including the price of gas that the two countries had agreed upon.

The proposal involves transporting the gas through a pipeline that the three countries plan to jointly build.

Mahaneh said Pakistan and India also are expected within a month to discuss the pricing formula agreed between Iran and Pakistan. It was not immediately clear if India also would agree to price.

Iran's supreme leader, Ayatollah Ali Khamenei, told Musharraf that ''Iran is rich in terms of gas resources and... the Pakistani nation will benefit from Iran's resources.''

Iran's state-run television also quoted Musharraf as expressing ''satisfaction'' about the agreement and said Pakistan hoped the construction of the pipeline will begin soon.