Middle East Economic Survey

VOL. XLIX

No 31

31-Jul-2006

IRAN

Iran-India LNG Agreement Hits Pricing Snag

A $22bn agreement under which Iran was to supply India with 5mn tons/year of LNG over 25 years beginning in 2009 has foundered over a disagreement on pricing (MEES, 20 June 2005). Irans Foreign Minister Manouchehr Mottaki said on 23 July: I think both sides found out that there are some specific difficulties in implementing the project, with the agreement as it is now. Both sides understand that...