The price of Iranian gas to be exported through the Iran-Pakistan-India, or IPI, pipeline should be based on global market prices and the original agreements revised accordingly, Iran's oil minister said, the Iranian oil ministry's official Shana news Web site reported late Monday.
Gholam Hossein Nozari said the price and price curve, both introduced a year and a half ago, need to be revised and that the price formula for Iran's natural gas should be determined based on international prices, Shana reported.
Nozari added that initial discussions to change the price formula have begun and Pakistan has said it is ready to make the revision, according to Shana.