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FX.co ★ India to resume construction of gas pipeline from Iran

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Forex Humor:::2014-07-23T15:18:00

India to resume construction of gas pipeline from Iran

The government of India offered to re-start work on the gas pipeline project from Iran to Pakistan and India, IRNA news agency reported, citing India's Oil Ministry. The talks on the project kicked off long ago with some attempts to realize it even taking place. However, it was frozen in 2008 because of sanctions imposed on Iran. The governments of both Pakistan and India make no bones about their count on positive outcome of the negotiations about Iran's nuclear program and consequent lifting of sanctions. Currently, India is in search for alternative oil suppliers from Saudi Arabia and Iraq, where military operations take place on a regular basis. India regards Iran as a supplier of both pipeline gas and liquefied natural gas. Under the project terms, the Iranian government has already constructed a part of the pipeline stretching for 900 kilometers along its territory. Now it is Pakistan’s turn to fulfill its obligations completing its 700-kilometer pipeline leg. Back in February 2014 Tehran had plans afoot to send an official delegation to Islamabad to pursue the construction of the project. However, the mission failed to complete.

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