Iran Ready to Open $22 bln LNG Deal

A009017238.jpgTEHRAN (FNA) In a major breakthrough, Iran on Wednesday said that it was ready to re-open and negotiate the till now frozen $22 billion liquefied natural gas (LNG) deal signed with India in 2005 offering five million tons of LNG for 25 years.

“We will discuss the issue when we finalize the contract. We are open to negotiations on the issue.

“We will cover all aspects during the talks, including movement of LNG prices in the international market. But we will give good concessions to India,” Iranian Minister for Economy and Finance Davoud Danish Jafari told reporters after his bilateral meeting with India’s Petroleum and Natural Gas Minister, Murli Deora, in New Delhi.

Jafari said he had invited Deora to visit Tehran and offered that Iran was ready for investment by Indian companies, both in the public and private sector, in Iran’s oil and gas sector.

“We are ready to offer Iranian gas fields to Indian companies. They could also set up an LNG terminal there. The quantum of LNG to India can be subject to investment in Iran’s oil and gas sector,” he said.

On the issue of Iran-Pakistan-India (IPI) gas pipeline, Jafari said he hoped that India and Pakistan would soon resolve differences to pave way for the implementation of the $7.4 billion project.

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