Wednesday, May 03, 2006

Oil and Gas: Iran gives India until August to sign tri-nation pipeline agreement

Iran today has given India until August to sign an agreement on the proposed $ 7-billion Iran-Pakistan-India pipeline.

However, I rand denied reports that India had been "ousted" from the project. Iran's Deputy Oil Minister, Mr Hadi Nejad-Hosseinian told reporters, "I want to clarify that contrary to reports, India has not been edged out of the Iran-Pakistan-India pipeline. We continue to engage in discussions leading to tri-nation ministerial meeting next month".

The Iranian minister said that India has to agree on the pipeline by August, failing which Tehran would proceed with bilateral exports to Pakistan.