However, under the latest scenario, Pakistan has told Iran that Islamabad fully acknowledged the rights of Tehran under GSPA
about the IP gas line.
P and ID's claim in the arbitration proceedings was mainly for loss of profit for the entire twenty-year term of the GSPA
, initially claiming the sum of US$1.9 Billion and later increasing its claim to US$5.9 Billion.
The ECC asked the Petroleum Division to come up with a PNC and submit a formal summary in the next meeting for approval so that the PNC could report on pricing within 15 days for formal signing of GSPA
They said the petroleum division was planning to negotiate amendment in the GSPA
with Iran to execute the much-delayed gas pipeline project.
The government has requested Iranian authorities to bring changes in the gas sale and purchase agreement (GSPA
Under the Gas Sales Purchase Agreement (GSPA
) signed with Iran by the outgoing PPP government in 2009, the first flow of gas to Pakistan should have started by Dec 31, 2014.
In contrast to its surroundings, the hotel is elegant and contemporary and has a newly opened GSpa
Gas Sale and Purchase Agreement (GSPA
) was signed by the heads of respective commercial entities on 23 May 2012.
In case of failure, Pakistan will have to pay a penalty of three million dollars per day under the Gas Sale and Purchase Agreement (GSPA
), the report said.
"Afghanistan was earlier interested in the transit fee only but it later signed the GSPA
with Turkmenistan in July 2012 for 500 mmcf of gas per day.
Magellan Petroleum Corporation, through its indirect subsidiary, Magellan Petroleum Corporation (NT) Pty Ltd (MPNT), signed a gas supply and purchase agreement (the "Dingo GSPA
) with Northern Territory Power and Water Corporation (PWC) for the long-term sale of gas from the company's Dingo gas field.
After signing ceremony of the Sovereign Guarantee Agreement (SGA), Pakistan's then Minister for Petroleum and Natural Resources Naveed Qamar signed Gas Sales and Purchase Agreement (GSPA
) with Iran on June 5, 2009 through which Pakistan would import one million cubic feet gas per day.