Financial Daily from THE HINDU group of publications
Wednesday, Apr 19, 2006
Financial Daily from THE HINDU group of publications Wednesday, Apr 19, 2006 |
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Industry & Economy
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Petroleum `Iran gas pipeline project on track' Our Bureau
Thiruvananthapuram , April 18 India intends to proceed with the proposed gas pipeline project for transporting natural gas from Iran via Pakistan, said Mr E. Ahmed, Minister of State for External Affairs, here. Addressing newspersons here, Mr Ahmed said that preliminary ministerial and technical discussions on the subject have already been completed at the bilateral level with Iran. It may be recalled that the $7-billion project has fixed a May deadline for India to join, and envisages the laying of pipelines over a distance of 2,600 km across three beneficiary countries. The pipeline project is a crucial aspect of India's efforts at attaining energy security, since the country currently imports three-fourths of its requirements of crude oil. It is expected to transport 90 million standard cubic metres of gas every day from Iran's South Pars fields to India from 2009-10 onwards while Pakistan would receive 60 million standard cubic metres.
Nuclear issue
On Iran going nuclear, Mr Ahmed reiterated India's stand that the issue should be resolved in a transparent manner through dialogue and discussions. All sides should work to find a diplomatic solution and a confrontationist approach should be avoided at all costs, he said.
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