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India & Iran lend a Fresh Eye to LNG Contract

New Delhi, November 18, 2006

In consonace with the LNG contract signed in June 2005 at Tehran, Minister of Petroleum and Natural Gas Murli Deora and the Iranian Foreign Minister Monachehr Mottaki held discussions on two important projects between the two countries including the sale of 5 million tones LNG per year and the Iran-Pakistan-India (IPI) Gas Pipeline Project.

Deora emphasized Indian commitment to the projects and told media persons after the meeting that India will have a look at the fresh proposals from Iranian side. He also informed that the consultants appointed for suggesting a pricing formula for IPI Gas Pipeline Project is expected to submit their report soon. This will be followed by Secretary level talks between the three countries at Teheran. Mottaki also reiterated that Iran is keen to go ahead with both these projects to further strengthen relationship between India and Iran.

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