BusinessLine: India Seeks Stake in Iran LNG Project

India has offered Iran options for firming up commercial ties with the gulf nation in the energy sector.

“We have given a proposal to develop the discovered Farsi offshore block (now called Binaloud) on a standalone basis as well as to make it part of an integrated package — stake in LNG terminal as well as development of the field,” a senior official associated with the development said.

Discussions between the two countries are still going on, a Foreign Ministry source told BusinessLine. Iran is insisting on a government-to-government deal, but New Delhi believes that the commercial deal can be done through a consortium of public sector undertakings.

Sources said that consortium of state-owned entities and private players can also not be ruled out depending on how the discussions pan out. “If we are giving them sovereign guarantee, we do not see any problem in the consortium which would subsequently have private players also,” the official added. MORE