Tehran and New Delhi are in the final stages of negotiating the construction of a trans Oman Sea-Indian Ocean pipeline to transfer gas from Iran to India, according to Iran's energy information network Shana on Tuesday.
"The $4.5billion pipeline is set to pump 31.5 million cubic meters (mcm)of Iran’s gas to India’s western Gurjarat port,” said Ali-Reza Kameli, head of National Iranian Gas Export Company (NIGEC),during the Fifth World Energy Policy Summit in New Delhi.
He added that the pipeline construction company, South Asia Gas Enterprise (SAGE) will construct the Iran-India pipeline which is due to be completed in two years after signing the contract, according to IRNA.
Iran and India also discussed there-entry of ONGC Videsh, the state-owned oil and natural gas company of India, into the development of Iran's Farzad-B offshore natural gas field in the Persian Gulf.
Due to U.S.pressure,India delayed the development project of Farzad-B natural gas field and also withdrew from the Iran-Pakistan-India gas pipeline.
Nearly 600million new electricity consumers will be in India by 2040, according to the IEA report.
India still faces challenges in energy and development despite its energy demand almost doubling since 2000. Some 240 million people,one in five Indian citizens,lack access to electricity, the report estimates.
(Anadolu Agency)
