"[One] of the big projects Russia can play a role in is the pipeline that transfers Iranian gas to Pakistan and India," said Shamuzov. "This pipeline can even go as far as China because this region has a big population and is a big market. I believe this pipeline should be constructed and Gazprom will most likely be a partner."

The pipeline, which will mainly transfer gas from Iran"s South and North Pars offshore fields in the Persian Gulf, will initially carry 60 million cubic metres of gas per day, according to Hojatollah Ghanimifard, an Iranian negotiator. The second phase should see the transfer of an additional 90 million cubic metres per day.

The pipeline has been in the planning stage for more than a decade but has made slow progress mainly due to political tensions between India and Pakistan.

PIN/ARABIANBUSINESS