i Develop Stocks Advisory

China ready to replace India in IPI gas pipeline China is ready to join Pakistan and Iran to build a pipeline and purchase Iranian gas if India does not participate in the project, a media report said here today. Pakistan plans to import 2.2 billion cubic feet of gas a day from Iran through the pipeline and has said it was willing to consume an additional 1.05 billion cubic feet of gas if India does not join the project. China has told Pakistan that it was interested in importing the additional gas if India does not join the project, sources told the Daily Times newspaper. The sources also said Iran had no objection to exporting gas to China. Pakistan and Iran have finalised a gas purchase agreement. However, Pakistan and India have been unable to narrow their differences over the transit fee to be charged by Islamabad for the Iranian gas. Reports from India have suggested that it will hold discussions with Pakistan on the pipeline once a new government is formed in the country after the February 18 general election. In case China joins the project, the pipeline might pass through Gilgit in Pakistan’s Northern Area, the sources said. Pakistan has already approved a project in the same area to widen the Karakoram Highway that links it to China. Pakistan also plans to extend a railway track to China to connect the neighbouring country to the Gwadar port on the Balochistan coast. Chinese experts will visit Pakistan to finalise the route of the pipeline if Beijing joins the project, the sources said.