Pak requests Iran to finance its share of IP gas pipeline project

Pakistan has requested Iran to finance $2 billion to build its part of the controversial Iran-Pakistan gas pipeline.

Petroleum minister Shahid Khaqan Abbasi said the preparatory work for the Iran-Pakistan (IP) gas pipeline project was complete, but it ran into repeated problems to pay for the 780-kilometre section to be built on their side of the border, the Dawn News reports.

According to the report, the Iranian side of the $7.5-billion project is almost complete.

This is said to be the latest setback to the long-delayed section of the pipeline, which is expected to ease Pakistan's chronic gas shortages, the report added.

U.S. officials warned the project would risk triggering sanctions against Iran.