Pakistan and Iran have agreed to finalize a gas pipeline project at the earliest time to meet the energy requirements of Pakistan.

Iranian Foreign Minister Manouchehr Mottaki announced the offer during a visit to Pakistan's capital, Islamabad on Friday .

"Iran and Pakistan have expressed their desire to finalize their very important pipeline and gas export projects, bilaterally and definitely, whenever the third party is ready to join us."

Mottaki said that Iran would stand by Pakistan in this difficult time in order to realize closer cooperation in the field of energy. He said besides the gas pipeline project, Iran would also establish power plants in Pakistan to overcome its energy problem.

Meanwhile, Pakistani Foreign Minister Shah Mehmood Qureshi said that the two sides have discussed steps for promoting bilateral trade and economic ties. As Iran has assured it will provide crude oil facilities to Pakistan on deferred payment, Qureshi said that Iran will help stabilize the economic situation in Pakistan.

Qureshi said, as the proposed pipeline would run around 2,600 kilometers from Iran to India through Pakistan, both Iran and Pakistan said India would be welcome to join in the 7.5 billion US dollar project at a later stage.

"That Iran is willing to undertake this project bilaterally, we will be more than happy that India joins this project. We feel that this project will promote economic growth in this region."

Qureshi said that he would visit Tehran soon for further negotiations.