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Iran, India and Oman are preparing to begin official negotiations surrounding the delivery of the Iranian natural gas to the Indian market through a landmark, 1,400 kilometer, deepwater pipeline.
In December, Iran generally agreed on the idea of the project, however this is the first time negotiations on the matter have been held at the ministerial level, according to the National Iranian Oil Company (NIOC).
Iranian Foreign Minister Mohammad Javad Zarif, Indian Foreign Minister Salman Khurshid, and Omani Foreign Minister Yousuf bin Alawi bin Abdullah met in New Dehli last Friday to discuss the project which is estimated to cost in the realm of USD $4-5 billion and would carry 31 million cubic meters (mcm) per day of gas to India from Iran’s South Pars gas field.
If such a pipeline is built, it would likely have a tangible impact upon LNG shippers in the Indian Ocean region as well as affect plans for regasification facilities offshore India’s coast.
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