Middle East Economic Survey

VOL. XLVIII

No 3

17-January-2005

IRAN

India And Iran Sign Preliminary Agreements For LNG/Upstream Deal

India and Iran have signed a preliminary agreement under which India would import 7.5mn tons/year of Iranian LNG over 25 years beginning in 2009, while Indian upstream company ONGC Videsh would be given a 20% stake in the development of Irans Yadavaran oilfield, and an outright buyback contract for the development of Jufeyr oilfield. The agreement was signed on 7...