India, Iran set to seal gas pipeline deal

GAS DEAL: India expects to finalise a deal by next month on a pipeline that will transport gas from Iran. (Getty Images)

India expects to finalise a deal "by next month" on a pipeline that will transport gas from Iran, Indian Oil Minister Murli Deora told newswire AFP on Thursday.

He said the $7.5 billion project to transport Iranian gas across the subcontinent to India and Pakistan was discussed on the sidelines of the World Petroleum Congress industry event in Madrid.

"We discussed this here again yesterday [Wednesday]. There should be an end to dialogue now," Deora said in an interview with AFP at the World Petroleum Congress in Madrid when asked about the project.

"The only one issue is where to take the delivery, the delivery point. We wanted it on the border of India and Pakistan and they were suggesting on the border of Pakistan and Iran.

"But these things are being sorted out at a very high level now, and I hope by next month things will be okay," he said.

Asked when the deal could be signed, he said: "I hope by next month."

India's hopes of importing gas piped across Pakistan to feed its fast-expanding economy gained ground after the nuclear-armed rivals, who have fought three wars, began a peace process in 2004.

But Washington, which accuses Iran of seeking to build a nuclear bomb and being a state sponsor of terrorism, is fiercely opposed to the pipeline.

Tehran denies its nuclear programme is a cover for building atomic weapons.

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