1 May 2007 - 11:46
  • News Code: 103578

TEHRAN -- Iran suggested on Monday it would welcome any Gazprom involvement in a proposed $7 billion gas pipeline to India via Pakistan, with a senior official saying it would speed progress.

Gholam-Hossein Nozari, managing director of the National Iranian Oil Company (NIOC), did not say whether Iran had been in contact with the Russian energy giant on the issue or give details on what kind of participation he had in mind.

 

"Gazprom is a capable and big company and if it enters the peace pipeline it will help with the progress and speed up the operation," he was quoted as saying by the ISNA news agency, referring to the planned energy link from Iran to India.

 

Iran, India, and Pakistan are expected to sign a key agreement on pricing in June that will help the pipeline project take off.

 

The pipeline project, which aims to feed the growing energy needs of the subcontinent, has made slow progress in part due to political tensions between India and Pakistan.

 

Washington has repeatedly sought to discourage India from the project. Russia is Iran"s closest big power ally and has helped to water down UN sanctions against Tehran.

 

Iran sits atop the world"s second largest gas reserves after Russia.

 

Apart from the pipeline, New Delhi is also negotiating with Iran to secure a deal that would see Tehran supply 5 million tons of liquefied natural gas (LNG) a year over a 25-year-period from 2009.

 

PIN/REUTERS

News Code 103578

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