The Inter State Gas Systems (Private) Limited (ISGS) and the National Iranian Gas Company (NIGC) signed a revised agreement for stalled Iran-Pakistan gas pipeline project.
As per the revised agreement, Pakistan will no longer have to pay fine to Iran and Iran will not go to an arbitration court for delay in the pipeline construction.
The two countries will work together to find a viable solution to the project. Furthermore, Pakistan can build the IP pipeline till the year 2024 for buying 750 million cubic feet of natural gas per day (MMCFD) from Iran.