Online edition of India's National Newspaper
Friday, Aug 05, 2005
Google

Business
News: Front Page | National | Tamil Nadu | Andhra Pradesh | Karnataka | Kerala | New Delhi | Other States | International | Opinion | Business | Sport | Miscellaneous | Engagements |
Advts:
Classifieds | Employment | Obituary |

Business Printer Friendly Page   Send this Article to a Friend

India may invest in gas pipeline project

Special Correspondent


  • Cabinet nod must for joining consortium
  • Indian involvement will ensure pipeline security
  • A project structure should be in place by November

    NEW DELHI: India may invest in the proposed Iran-Pakistan-India gas pipeline project. This is a departure from its stance that it would only take delivery of gas on the Indo-Pakistan border.

    According to Petroleum Ministry officials, Cabinet approval will have to be sought for joining the project consortium.

    After a meeting of the two-day Indo-Iran Joint Working Group here, the officials said India getting involved in the project would also help to ensure pipeline security. India and Pakistan were expected to appoint financial consultants by month-end to outline the project structure.

    Iranian Deputy Oil Minister M.H. Nejad Hosseinian said the project structure should be in place by November. This could involve the three countries laying the pipeline separately in their territory or having a consortium of Indian, Pakistani and Iranian companies along with international firms, which would build and operate the pipeline. A statement issued after the meeting said that as soon as an agreement on the project structure was reached, the trilateral framework accord would be finalised by year-end. The Indian side reiterated its commitment to carry forward the project.

    On the security of the pipeline, Mr. Hosseinian said it was a "very important" issue, which needed to be addressed in the framework agreement.

    As for requirement, he said India and Pakistan sought more than the capacity of the 56-inch pipeline. It would have a capacity of only 120 million standard cubic metres of gas a day.

    Printer friendly page  
    Send this article to Friends by E-Mail



    Business

    News: Front Page | National | Tamil Nadu | Andhra Pradesh | Karnataka | Kerala | New Delhi | Other States | International | Opinion | Business | Sport | Miscellaneous | Engagements |
    Advts:
    Classifieds | Employment | Obituary | Updates: Breaking News |


  • News Update


    The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
    Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

    Copyright 2005, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu