Times of India: GAIL skirts Iran undersea pipeline deal for fear of US ire

Teheran's troubled ties with the West continue to dog India's efforts to secure energy supplies. In the latest instance, GAIL India has expressed unwillingness to enter into a non-binding framework agreement with NIGEC (National Iranian Gas Exports Company) for buying gas through a transnational undersea pipeline for fear of losing access to international financing. 

The oil ministry had authorized GAIL as the nodal agency for pursuing the project, being promoted by SAGE (South Asia Gas Enterprise), jointly promoted by a Delhi-based group and UK firm, and has the blessings of governments of Oman and Iran. 

India formally discussed with foreign ministers of Oman and Iran in February the possibility of joining the project. SAGE proposed signing a three-way framework agreement among gas seller NIGEC, transporter SAGE and Indian gas buyer GAIL, IndianOil and Gujarat State Petroleum Corporation.  MORE