India hints at more energy trade with Iran

Economic demands may outweigh diplomatic pressure

trithesh

Trithesh Nandan | February 15, 2012



The Delhi car bomb blast has put the India-Iran ties under pressure but New Delhi has hinted that there can be further cooperation with Tehran to fulfill its energy security needs.

“We can find out potential in countries across the (South Asian) region to the rest of other countries like Iran, Uzbekistan and Tajikistan which are surrounding us,” said BK Chaturvedi, member (energy) of the planning commission, at the cross-border energy trade summit organised by USAID and CII in New Delhi.

Chaturvedi added, “There is a possibility for us to engage them in energy trade. This is the potential we would have to take care of.”

India makes 10 percent of oil imports from Iran. But the US has put pressure on countries like India in recent months to stop payments for oil imported from Tehran because of its nuclear ambitions. Earlier Washington had put pressure on New Delhi to scuttle the proposed multi-billion dollar gas pipeline from Iran to India via Pakistan.

Iran possesses the second largest oil and gas reserves after Saudi Arabia. Tehran’s geographical proximity makes it a logical source of hydrocarbons for energy starved India, which wants to grow at eight to nine percent GDP. Statistics say that India imports 70 percent of hydrocarbons and is expected to import 90 percent in the years ahead.

Comments

 

Other News

India reaffirms commitment to climate multilateralism

India has reaffirmed its commitment to climate multilateralism and the principles of Equity and Common But Differentiated Responsibilities and Respective Capabilities (CBDR-RC), calling for a fair, equitable and ambitious outcome at the 31st Conference of the Parties (COP31) to the United Nations Framewo

How the mind can help the body heal itself

Why do some people recover from illness against all odds? Can our beliefs, emotions and consciousness influence the body’s ability to heal? Drawing on over three decades of experience in medicine, research and medical innovation, internationally trained ophthalmologist and author Dr Dinesh Verma ex

1,364 anti-cancer formulations to cost less from today

The National Pharmaceutical Pricing Authority (NPPA), under the Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers, has capped trade margins on the Maximum Retail Price (MRP) of 137 anti-cancer drugs. This was based on the recommendations of an Expert Committee constitute

Who checks the books?

I read about the news about the Coimbatore library over coffee this morning. On the face of it, the headline was about a political ‘war’ between the DMK and TVK. But what stayed with me was something much more important than the blame game behind what had transpired. A writer walking through

Development paradox: Falling poverty miracle and an inequality problem

India’s reduction in poverty over the past decade is a development achievement of considerable significance. The World Bank’s April 2026 ‘India Development Update’ estimates that the share of Indians living below the international extreme-poverty line of $3.00 per person per day i

In Arunachal, a river we call mother

In Arunachal Pradesh, the Siang is not just a river. For many of us, especially the Adi people, it is part of our family. Our grandparents fished in it. Children learned to swim in it. Our farms drink from it. When someone says a huge dam will be built on it, we do not hear the word "project".

Upcoming Conferences



-->

Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter