With the prospect of lifting of economic sanctions on Iran, India has expressed interest in buying liquefied natural gas (lNG) from the Persian Gulf nation, Oil Minister Dharmendra Pradhan said on Wednesday.
Indian state firms had on June 13, 2005 signed a Sale and Purchase Agreement (SPA) with Natioanl Iranian Gas Export Company (NIGEC) for buying 5 million tons a year of lNG on a long-term contract at very attractive price of $3.215 per million British thermal unit. But Tehran never honoured that deal.
“With the lifting of sanctions, Iran is again planning lNG liquefaction facilities. An Indian delegation visited Iran during last week of July, 2015, wherein Indian side indicated their willingness to offtake lNG from Iran,” he said.