Global Business in Iran Database
In-depth metrics and analysis of Iran's international economic partnerships.
India Offers Energy Investment
description
India offered to invest 6.5 billion in Iran's energy sector after high level talks with the NIOC in Delhi in exchange for coming to an agreement on a 2005 LNG contract that has been in limbo since NIOC declared that the gas pricing formula was too low. That 2005 contract called for 5 million tons of LNG to be exported to India annually for a total of $22 billion. Last week, India proposed purchase of another 5 million tons on top of the contracted amount.
- Country: India
- Client: National Iranian Oil Company
Status
- Current Status:
- Discussion Date: Sun, 2009-11-29
- Contract Date:
- Completion Date:
Citation
1. “India-Iran LNG hits Roadblock”, The Hindu, 21 May 2007, available at http://www.hindu.com/2007/05/21/stories/2007052104541300.htm.
2. “India Proposes to Invest $6.5 billion in Iran’s Gas Fields”, Economic Times, 30 November 2009, available at http://economictimes.indiatimes.com/news/news-by-industry/energy/oil-gas....
3. "India's Clearance for LNG Project", The Hindu, 5 September 2005, available at http://www.thehindu.com/2005/09/04/stories/2005090409000100.htm.