Deora for early implementation of LNG contract with Iran

Mr Murli Deora, Minister of Petroleum and Natural Gas, has stressed the need for an early implementation of the liquefied natural gas (LNG) contract and reiterated India's commitment to the gas pipeline project during his meeting with the Iranian President, Mr Mahmoud Ahmadinejad, and his counterpart, the Oil Minister, Mr Kazem Vaziri Hamaneh, in Tehran. Mr Deora was in Tehran on April 25-26.

The Iranian President reassured Mr Deora that the Iranian side is also committed to the projects, which will be implemented to mutual satisfaction. In particular, the President advised the Iranian Oil Ministry to look at ways to ensure early implementation of the LNG contract. India also expressed interest in procuring an additional quantity of 2.5 million tonnes of LNG per annum.

According to an official release, Mr Deora was accompanied by a high-level delegation. During their discussions both the sides recognised that the energy sector constitutes a key element in Indo-Iran commercial relations. In this regard, the discussions also covered the bilateral contract for supply of five million tonne of LNG per annum from Iran to India signed in June 2005 apart from the proposed Iran-Pakistan-India gas pipeline project.

Mr Deora also conveyed the growing interest and keenness of India's private sector to participate in Iran's economic development in sectors as diverse as cement, steel, fertilisers, pharmaceuticals and automobiles, it said.

Source: Business Line, New Delhi, April 27, 2007
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