India proposes fresh trilateral gas pipeline talks

    • India proposes fresh trilateral gas pipeline talks

      New York: India has proposed fresh trilateral talks to be held in Tehran next month and is optimistic that the proposal on the Iran-Pakistan-India natural gas pipeline will be accepted.

      ''We had initiated the trilateral talks in 2007 among the three governments and such discussions are ongoing,'' Minister for Petroleum and Natural Gas Murli Deora told reporters at the Consulate General of India in New York.

      A bilateral agreement was signed between Iran and Pakistan earlier this year on the USD 7.5 billion gas pipeline, a venture in which New Delhi has shown interest for obtaining gas.

      Deora and his high-power delegation had earlier met in New York with US investors in the oil and gas sector. According to the accompanying officials, various proposals were submitted to them.

      ONGC (Videsh) has spent USD 12 billion in overseas investment in the last few years and another USD 10 billion is planned in the next five years.

      In Houston, the ministerial team met with the CEO of Exxon-Mobil and other oil company executives. They also attended several road-shows.

      In New York, while answering questions the officials said India had entered into agreements on energy development in neighboring Myanmar.

      India, which imports about two-thirds of its oil, and other consuming nations would like to have the price between USD 70 and 80 a barrel. The officials also noted that the price range was not unacceptable to producers.

      The volatility in prices was among the issues discussed at the Cancun conference, where 50 nations were represented by 66 ministers at the Mexican resort.

      Asked about whether India is interested in offshore drilling along the US Northeast as was announced by President Barack Obama, the officials said the country was 'receptive' about the development.

      The minister’s weeklong US visit began on March 29 in Houston and is scheduled to end tomorrow in Washington.

      This is an extract from…peline_talks__N43347.html


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