India interested in Iran oil pipeline

India is interested in the Iranian gas pipeline and issues like price and safety are being worked out.

"In principle in the long run, we need a pipeline and the issues need to be addressed. The issues are being addressed," official sources said today.

India considers Iran a major partner in the West Asian region and Prime Minister Manmohan Singh would be meeting Iranian President Mahmoud Ahmadinejad on the sidelines of the UNGA during this week to discuss bilateral issues.

The sources said Iran is a major partner of India on several issues in West Asia where Tehran is a matter of stability.

India has a bilateral trade of USD 12 billion with Iran and 64 of India's oil requirements worth USD 90 billion is sourced to the region.

Also, there are 6 million Indians in West Asia, the sources point out.

They said: "We are interested in the pipeline. There are basic issues. One is pricing and the other is safety."

The pipeline cost USD 6 billion and there are downstream projects that will work out to USD 30 billion. As a buyer, one would like some concession, the sources said.

The sources refused to read any meaning in the absence of any bilateral meeting for the Prime Minister with western leaders, especially US President Barack Obama on the sidelines of the UNGA.

They said Singh would be having a number of occasions for such meetings when they come for upcoming meetings like the G20 and other summits.