Iran backs deep-sea gas pipeline to India

• Iran is focusing on exporting natural gas to India along a deep-sea route, the move coinciding with the cancellation of a $500-million loan to Islamabad to build the Pakistani section of the Iran-Pakistan gas pipeline and the signing of the Geneva nuclear accord that could help relax sanctions against Iran.
• Negotiations were held with three Indian companies for purchase of gas from Iran, and general agreements have been reached.
• It is a multi-billion-dollar undersea pipeline, which could carry gas from Iran’s giant South Pars gas field to India’s west coast. Once operational, it could channel 31 million cubic meters of gas per day.
• There were no technical hurdles to build the deep sea pipeline, and the project, which was financially viable, could be completed in 4-5 years, once the sanctions against Iran are lifted.