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20

India Starves For Iran's LNG

Pricing issues may become a stumbling block..

India and Iran have long been negotiating importing 5 million tonnes of liquid natural gas from Iran, but pricing issues may become a stumbling block. Iran and India arranged with each other about setting up two committees to examine the pricing of LNG as well as the related proposal to offer a stake in a discovered Iranian oilfield to this country.
The two committees have been asked to submit their recommendations by August 15 after a deal may finally be concluded.
The proposal on LNG import was meant to diversify the sources of this critical hydrocarbon which is now being used to make up the shortfall in availability of natural gas in the country.
Two Indian companies, Petronet Limited and Gail India has already entered into a long term agreement with Rasgas of Qatar to import five million tonnes of LNG through specialized terminal in Dahej in Gujarat. Shell is also setting up a terminal at Hazira for the same purpose.