Talks between Tehran and New Delhi could result in the construction of an undersea gas pipeline which would transport natural gas from Iran to India within the next two years.
The National Iranian Gas Export Company (NIGEC) is moving to get the necessary approvals and sign a sale/purchase agreement for the gas.
The pipeline would cost $4.5bn and transport gas from south Iran via the Oman Sea and Indian Ocean to west India, specifically Gujarat.
Alireza Kameli, Managing Director of NIGEC, was quoted as saying that the pipeline will carry 31.5 million standard cubic meters gas per day. The Economic Times quoted him as saying: “Negotiations are under serious consideration.”
Kameli also disclosed that Iran is in talks with New Delhi-based South Asia Gas Enterprise Pvt Ltd for the construction of the 1,400km pipeline.
The Economic Times, reported that the 1,400-km pipeline will be laid bypassing Pakistan’s exclusive economic zone.
In 2016, a FEED study will be conducted and financing arranged.