Financial Daily from THE HINDU group of publications
Monday, Jan 23, 2006


News
Features
Stocks
Shipping
Archives
Google

Group Sites

Industry & Economy - Petroleum


Access to Iran gas critical for energy security: Aiyar

Our Bureau

Hyderabad , Jan. 22

ACCESS to Iran gas is very critical for achieving the energy security of the country, according to Union Minister for Petroleum and Natural Gas, Mr Mani Shankar Aiyar.

Talking to reporters here at the National Geophysical Research Institute (NGRI), here recently, Mr Aiyar said that if the tap (of the Iran-Pakistan-India gas pipeline) was turned off, then there was no hope whatsoever on achieving country's energy security needed for achieving a sustained GDP growth rate of 7-8 per cent in the next 20 years to eradicate poverty. And hence, the access to Iran gas was very critical.

Referring to the US opposition to the pipeline in the backdrop of nuclear issue row with Iran, he hoped that the US would be sensitive to India's energy security.

Mr Aiyar also stressed the importance of India joining a pan-Asian and CIS (Commonwealth of Independent States) gas network. The Minister was going to Ashkabad, the capital of Turkmenistan, to attend the meeting of TPA (Turkmenistan, Pakistan and Afghanistan) pipeline. If India joined, it would become TAPI. The Minister said that it could be strengthened by joining several other countries.

On the Iran-Pakistan-India (IPI) gas pipeline, he said the work related to the pipeline was progressing well. The stage had been set for tripartite talks after successfully completing negotiations with Pakistan and Iran independently. His counterparts from both the countries would visit India soon to continue negotiations.

The Cabinet, which earlier gave the nod for holding bilateral discussions on the issue, would take a decision in February on initiating the tripartite talks.

The Petroleum Minister said that technical and financial consultants had been appointed and legal consultants would also be appointed with regard to purchasing power at the border. He discounted fears that international firms won't take part in the project due to the ILSA (Iran-Libya Sanction Act), as the three consultants were global firms. The US Act barred its companies from investing in the Iran oil and gas industries.

Earlier, the NGRI and Directorate General of Hydrocarbons signed a memorandum of understanding for carrying out four projects in the presence of the Union Minister.

Addressing a gathering later, he asked the scientists to work for finding energy resources that would meet the future requirements. Referring to the successes of Mexican scientists, Mr Aiyar asked the NGRI scientists to open the lock to break the Deccan traps.

More Stories on : Petroleum

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page



Stories in this Section
`Weak' La Nina likely this year


Concern over TN Govt's `silence' over VAT
Biotech sector wants IPR-savvy accreditation body — Presents 16-point charter to Finance Minister
Social concerns, fiscal prudence to guide Budget: Chidambaram
Dublin keen to export food & drinks to India — In talks for local distributors & exporters
`Fed Amrita' service
Petroleum products pricing — Oil marketing firms' balance sheets may be under strain in Q3 too
`Uncertainties over Kochi LNG terminal a cause for concern'
Access to Iran gas critical for energy security: Aiyar
Kerala Tax dept web site
Govt expects over Rs 20.7 cr from FM radio bidding
Indo-German tech institute labs at Vizag
`Techprop 2006' contest
Ascendas renames IT park at Madhapur; begins work on phase V
Garment park project initiated in Bengal
APMDC must control bauxite mining: CM
Maharashtra Scooters pricing: `WMDC interests will be protected'
BALCO stake sale: Govt hopeful of good return
India to be showcased at Davos meet
Budget session from Feb 16
Agenda for the week
Engagements
`No IT notice served on Amitabh in hospital'
Deposits exempt from TDS on interest — CBDT plans change in banks' reporting details


The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line