Summary
Following an agreement in April, construction work could start as early as 2010, with gas flowing five years later. * The second is the $7.5 billion IPI scheme, an overland pipeline, running from Iran's large South Pars gas field, across Pakistan and into India. Competing strategic relationships and security problems are the greatest obstacles, but with oil prices forecast to reach $200 a barrel by the end of the year, and Asia's big economies increasingly facing energy insecurity, economics can be expected to win.
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Chasing Pipe Dreams
iT SHOULD BE A PERFECT EXAMPLE OF MARKET economics: some parts of Asia and the Middle East have abundant energy resources, others a distinct and growing lack. So why not link them up, stand back and let market forces do the rest? Schemes like this have been around since the 1980s, but a range of factors from cost to diplomatic tensions and difficult terrain have produced d...
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