Pakistani Media have reported that Russia has agreed in principle to finance the $1.5 billion Iran-Pakistan (IP) gas pipeline project. The Express Tribune said this weekend that the Russian offer came after a presentation in Moscow by a Pakistani delegation over the details of the pipeline, gas volume and financing requirements.
Meanwhile, the Pakistani media is reporting that India is contemplating about re-joining the Iran-Pakistan gas pipeline project and thus reviving the original Iran-Pakistan-India (IPI) pipeline concept. Online quoted an unnamed Indian diplomat on Sunday that India had never abandoned the project; IPI "was merely gone down on the priority list.”
Analysts believe that India abandoned IPI due to the pressure from the US and was anxiously pursuing the Turkmenistan-Afghanistan-Pakistan-India (TAPI) project. But the TAPI pipeline is facing serious problems in securing financing.