Iran to move arbitration court next month on IP gas pipeline | Geo News 12PM Headlines | 27 Aug 2024

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ISLAMABAD: In a shocking development, Iran has served its last notice on Pakistan informing that Tehran is left with no option but to move the Paris Arbitration Court in September 2024 against Pakistan for not constructing the pipeline under the IP gas project during the extended 180-day deadline, senior official sources told The News.

The project has been facing a 10-year delay since 2014 over proposed US sanctions on the project. “The GSPA (Gas Sales Purchase Agreement) was signed in 2009 under French law and the Paris-based Arbitration court is the forum to decide disputes that arise between the two countries. The French arbitration court does not recognize US sanctions.”

“The Inter-State Gas Systems (ISGS) of Pakistan and the National Iranian Gas Company (NIGC) inked the revised contract in September 2019 and under that Iran would not approach any international court if there was a delay in the construction of the pipeline, however, Pakistan would erect its pipeline by 2024 after which it would have an intake of 750 million cubic feet of gas from Iran daily.” “Under the revised contract, Pakistan was bound to erect the portion of pipeline in its territory till February-March, 2024. Iran however facilitated Pakistan and extended the 180-day deadline that is to expire in September 2024, however, authorities again failed to lay down the pipeline. So, Iran served its final notice.


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