India, Pakistan clear obstacles on IPI

ISLAMABAD, Pakistan, June 27 (UPI) -- There are no further commercial obstacles between India and Pakistan on a $7.4 billion natural gas pipeline from Iran, officials said Friday.

Pakistani Foreign Minister Mahmood Qureshi met with Indian Minister of Petroleum and Natural Gas Murli Deora in Islamabad to resolve remaining bilateral concerns on the Iran-Pakistan-India natural gas pipeline, the Press Trust of India reported.

"I am happy to report that as far as Pakistan and India are concerned, we have resolved all bilateral issues. There is no issue whatsoever that needs to be addressed now," Qureshi said.

Deora said there remained minor issues over transit fees, though both parties agreed on the general principles of the fee arrangement. He added India fully backs the proposed 1,724-mile pipeline.

Qureshi, for his part, said Pakistan acquiesced to India's demands that the custody of Iranian gas be transferred at the Indian border with Pakistan rather than the Iranian border.

Another round of meetings between the oil ministers of both countries is planned in Madrid July 1 to address the pricing demands from Iran.