Iran Pakistan India (IPI) Gas Pipeline is a transnational gas pipeline emanating from gas fields of Iran. It is a harbinger of peace and prosperity in South Asian region. This mega developmental project was surrounded by many controversies and political pressures from states within and outside the region. For this reason it kept hanging for a long time. IPI Gas Pipeline project is not only sighted as means of fulfilling energy requirements of much needed developing economies in the region, but also as a source of strengthening regional and bilateral ties among nations. The economic benefits outweigh the cost of IPI project’s implementation.