ISLAMABAD, Feb 25: The Senate Standing Committee on Petroleum and Natural Resources was informed on Monday that Pakistan and Iran would formally sign an agreement on Iran-Pakistan-India (IPI) gas pipeline project in March.

Briefing the committee, Ministry of Petroleum secretary Farrukh Qayyum said Pakistan had already initiated work on the project and technical details were being worked out with Iran. Under the agreement, Iran would supply 2.10 billion cubic feet of natural gas to Pakistan on a daily basis, for a period of 25 years with a delivery point pressure of 798 PSI.

The committee directed the Ministry of Petroleum and Natural Resources to complete its homework and intensify its efforts for land acquisition.

The committee directed the ministry to mark contours and alignments to complete the gigantic project on time.