India Welcomes Iran's Decision to Keep Farzad - B Gas Field Outside the Auction Basket
India has expressed delight at Iran’s decision to keep Farzad - B field outside the auction basket.
"The Indian side welcomed the Iranian decision to keep the Farzad - B field outside the auction basket. The concerned companies have been directed to complete their contractual negotiations in a time bound manner. Iranian side had earlier communicated their gas pricing formula and expressed their desire for Indian investment in the Chabahar SEZ," Press Trust of India quoted foreign ministry spokesperson Vikas Swarup as saying.
Swarup's statement came amid Indian foreign minister’s four-day visit to Iran and Russia.
Swaraj and her Iranian counterpart Mohammad Javad Zarif discussed on Saturday issues related to Chabahar port and Farzad B gas field, among others. Swaraj also met with Iranian President Hassan Rouhani.
Farzad-B gas field in the Persian Gulf was discovered by India’s ONGC Videsh, the overseas arm of the India’s state-owned Oil and Natural Gas Corporation (ONGC).
Meanwhile, India’s foreign ministry issued a separate statement on its website informing that the second meeting of experts from India, Afghanistan and Iran was held in New Delhi on April 11 to finalize the text of the Trilateral Agreement among the three countries on Transport and Transit Corridors (Chabahar Agreement).
The draft agreement envisions trilateral cooperation for providing alternative access to seas to Afghanistan, inter alia for Afghanistan’s trade with India. When the agreement comes into force it will significantly enhance utilization of Chabahar Port, contribute to economic growth of Afghanistan, and facilitate better regional connectivity, including between India and connections to Afghanistan and Central Asia. The agreement will be a strategic bulwark for greater flow of people and goods among the three countries as well as in the region,” the ministry stated.
Earlier this month, India’s oil minister visited Iran where he said that New Delhi is ready to invest $20 billion for development of energy and petrochemical projects in Iran's Chabahar Port. Dharmendra Pradhan said that Iran-India relationships in energy sector is no longer limited to oil imports.