India expects tri-nation gas pipeline deal by June

Indian Petroleum Minister Murli Deora Tuesday said India hopes to sign a final deal with Pakistan and Iran on building a gas pipeline worth 7 billion U.S. dollars by the end of June if all the three countries agree on pricing.

"What Pakistan has accepted is in line with our expectations. The formula is comfortable with India and Pakistan," Deora told Xinhua Tuesday, referring to earlier reports that Islamabad has agreed to a proposed price mechanism.

The pipeline is projected to supply 60 million standard cubic meters of gas per day to India and Pakistan from Iran, which enjoys the world's second-largest reserves.

Deora said a secretary-level bilateral meeting between India and Pakistan will be held in the next two weeks to discuss various issues, including the gas transit fee. Iran will be an observer at the meeting.

Source: Xinhua