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Joint Site of Ministries of Foreign Affairs of BRICS Member States

Wednesday, November 8, 2017

Gazprom To Help Build Iran-India Gas Pipeline

Russia’s state-controlled gas giant Gazprom will take part in a project for the construction of a gas pipeline between Iran and India, Russian media quoted Energy Minister Alexander Novak.

Russia and Iran are expected to sign today a memorandum of understanding on Gazprom’s participation in the Iranian oil and gas sector. By the end of this year, the parties will draft and sign the legal framework for the project, Novak said. Indian, Pakistani, Russian, and Iranian companies will be taking part in the project, the Russian minister said.

According to Russian media, the pipeline is expected to be 1,200 kilometers (746 miles) long and will ship Iranian gas to India.

The parties will begin work on the project next year, after they will have signed all the legal paperwork later this year, according to Novak.

According to the Russian energy minister, there will be an underwater section of the pipeline. It’s early to talk about the amount of investments, but they will be big because there will be an underwater section in the Persian Gulf—it’s a capital-intensive project, Novak said.

Source: Oilprice