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Indo-Iran gas pipeline to become a dream
By agencies
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Wednesday, 03 May 2006, 19:30 IST
NEW DELHI: The $7 billion Asian energy lifeline to bring gas from Iran via Pakistan will remain a pipe dream. Iran today said it will not honor a $22 billion contract with India signed last June to sell natural gas in ships unless it gets a higher price.
Iranian foreign minister Hadi Mohammed Nejad said, "As far as we are concerned, the deal is not implementable unless the Supreme Council ratifies it. The Council has not done it till now because it wants certain changes.
Indian oil and petroleum minister Murli Deora said, There were differences over the price. Lets face it. He said adding that India will not take Iran to the international court or arbitration.
The senior Iranian minister wanted to come to Delhi on Tuesday but was told by Deora that India will not be rushed into any pipeline deal unless the LNG contract was honored.
Iran's Supreme Economic Council has refused to clear the deal as it feels the previous regime "undersold when it agreed to supply 5 million tones per annum of LNG for 25 years beginning 2009-10 for a price of $3.25 per MBTU.