India is very much committed to be a part of the ambitious $7.5 billion Iran-Pakistan-India (IPI) gas pipeline project, Union minister of state for Petroleum and Natural Gas Jitin Prasada said in Kochi on Friday.
“The project is very much in progress and India is very much interested in pursuing the same”, Prasada told reporters here in a brief interaction on the sidelines of a function here.
A series of secretary-level meetings between Iran and India has been held and the next meetings are scheduled in October or November this year, in which outstanding issues would come up for discussions, he said.
The Point of Delivery of the pipeline and quantum of oil reserves of Iran are among the issues which are likely to come up for discussions, he said.
The minister replied in the negative when asked if revision of petrol prices was on the cards. Since crude oil price are stable now, there was no possiblity of revision of prices in the immediate future, he said.
Earlier on September 11, Minister Murli Deora had dismissed reports that India was out of the tri-nation gas pipeline deal, saying “no final word” has been said about it yet.
“I have seen report emanating from Islamabad that India is out of the 2,775-km gas pipeline but with Iran the question is still open. Only because of the political situation in Pakistan, just now there is a stop on that,” he had said.