Financial Daily from THE HINDU group of publications
Thursday, Dec 16, 2004
Financial Daily from THE HINDU group of publications Thursday, Dec 16, 2004 |
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Industry & Economy
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Petroleum `Prospects for Iran-India gas pipeline look good' Our Bureau
New Delhi , Dec. 15 PROSPECTS for the proposed $4.16-billion Iran-India gas pipeline has brightened following the recent goodwill generated between the two neighbouring countries, a top Iranian Government official said here on Wednesday. "The pipeline project looks closer than ever. I am very optimistic that the goodwill between India and Pakistan will further the prospects of the pipeline," Iran's Deputy Minister of Foreign Affairs in Economic Affairs, Dr Ali Majedi, said at a conference on Iranian Gas Exports to Pakistan and India. He, however, said security of gas supplies to India through the 2,775-km pipeline, 760-km of which will pass through Pakistan, remained a key issue. "But if India says all bilateral issues with Pakistan (like Most Favoured Nation status) need to be sorted out before the project is given a go ahead, I think you are losing an opportunity," he said adding Tehran had alternative markets in Europe and South-East Asia to sell its vast gas reserves. Iran has been pursuing the pipeline proposal, which will save India millions of dollars in energy cost, with New Delhi and Islamabad since 1996, but tensions between the two countries blocked any progress. Dr Majedi said the international consortium of bankers and oil firms could build and operate the project. Mr Ken Bilston of BHP Billiton, which conducted the feasibility study of the pipeline, said that pipelines damaged by sabotage worldwide were repaired in 48 hours and there was no reason for concern over supplies for the Indian side.
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