Posted inProducts & Services

India ready to invest $6.5bn in Iran’s gas fields

South Asian state looks to secure future LNG needs with offer to Iran

by Kevin Baxter
India ready to invest $6.5bn in Iran's gas fields
India ready to invest $6.5bn in Iran's gas fields

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India has said that it is willing to invest US$6.5 billion to develop Iran’s gas fields if the Gulf state agrees to up it’s shipments of liquefied natural gas (LNG) to the South Asian country.

The Times of India reported that government officials met with visiting Iranian deputy oil minister and National Iranian Oil Company (NIOC) managing director, Seifollah Jashnsaz and discussed importing 5 million tonnes of LNG per year from Iran.

India also requested that Iran honour the deal signed in 2005 that ensured India receiving supplies of LNG from Iran via the Iran-Pakistan-India pipeline.
 

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