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Ram Naik to visit Iran to discuss LNG, imports
May 01, 2003 15:03 IST
Oil Minister Ram Naik will discuss liquefied natural gas imports from Iran and seek opportunities for Indian firms in Iran's upstream sector when he visits Teheran this month, officials said on Thursday.
Naik will also discuss crude oil imports from Iran, which already supplies about 160,000 barrels per day to energy-starved India.
"We are interested in taking oil fields on a nomination basis. This would add to the country's energy security," Naik told reporters.
He is scheduled to reach Teheran on May 12 for a two-day visit.
Iranian President Mohammad Khatami had offered to sell more crude oil to India during his visit to New Delhi in January and invited Indian firms to invest in the country's energy sector.
Indian officials said Iran was keen to sell 2.5 million tonnes of LNG a year to India and offer India's state oil firms a role in Iran's energy sector.
India is also considering natural gas imports from Iran by a pipeline if it does not cut across Pakistan.
It is willing to consider a deep-sea pipeline after its feasibility is established.
India imports 70 per cent of its crude oil requirement. It produces 65 million cubic metres (2.3 billion cubic feet) of natural gas a day, less than half its demand of 141 million cubic metres.
It plans to start importing LNG from Qatar in December and is also keen to import gas from neighbouring Bangladesh.
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