Iran finalizes deal to build gas pipe to Pakistan

AP: Iran’s state TV says the country has finalized a deal to build a pipeline to Pakistan capable of exporting 21.5 million cubic meters per day.

The Associated Press

TEHRAN, Iran (AP) — Iran’s state TV says the country has finalized a deal to build a pipeline to Pakistan capable of exporting 21.5 million cubic meters per day.

The Sunday report said exports will begin in 2014 after the 730 mile (1,200 kilometer) pipeline is finished on the Iranian side. A state radio report report added that the project will cost $7 billion.

The project, known as the Pipeline of Peace, was initially expected to include India, but the country stayed out of the deal over security of the pipeline and price of transit through Pakistan.

The ratification comes after the U.N. Security Council approved a fourth round of U.N. sanctions against Iran on Wednesday.

The West fears Iran’s nuclear program is for developing weapons, a charge Tehran denies.