Posted on 05/02/2007 10:15:51 PM PDT by Tailgunner Joe
Mumbai: The World Bank has expressed its readiness to fund the Iran-Pakistan-India gas pipeline and described the $7 billion project as a `win-win deal' despite US reservations about the project.
World Bank vice president Praful Patel said although the bank has not been approached by Pakistan to this effect formally or informally, the bank was ready to fund as and when approached.
"IPI gas pipeline project is a win-win project for Pakistan and India besides being good and quite feasible in catering to the energy needs of Pakistan and India," he said.
If the IPI project materialises, Pakistan would get an annual transit fee from India, which would play a pivotal role in strengthening its economy, Patel said.
He said the bank also supports the Turkmenistan-Afghanistan-Pakistan (TAP) gas pipeline project. "If Pakistan would come to ask for funding for any of the pipelines, the World Bank would seriously consider extending the funding," he said.
The bank would give a serious consideration to finance these projects if approached, he said.
An Iranian oil official, meanwhile, suggested that Iran would welcome any involvement by the Russian oil giant Gazprom in the project, adding it would speed progress.
Gholam-Hossein Nozari, managing director of the National Iranian Oil Company, did not say whether Iran had been in contact with Gazprom on the issue and failed to provide details on what kind of participation he had in mind.
"Gazprom is a capable and big company and if it enters the peace pipeline, it will help with the progress and speed up the operation," Iranian news agency ISNA quoted him as saying.
Damn Tranzi bastards.
Iran signs gas deal with Austria’s OMV [30-Billion-Dollar Deal]
http://www.freerepublic.com/focus/f-news/1821539/posts
Iran signs gas deal with Austria’s OMV
The Peninsula/Reuters | Apr. 22, 2006
TEHRAN • Iran signed a major agreement with Austrian energy group OMV yesterday to help develop the country’s vast gas resources and build a plant for liquefied natural gas (LNG), official Iranian media said.
State television described it as Iran’s biggest such contract with Europe, and some Iranian media put its total value at up to $30 billion over 25 years, including the sale of billions of cubic metres of natural gas to the continent.
But OMV made clear the deal was still at an early stage and did not give any figures, suggesting it had so far only signed a non-binding memorandum of understanding.
It comes at a time of escalating tension between the West and Iran over Tehran’s disputed nuclear programme. The United States, which accuses Iran of seeking to build atom bombs, has urged its allies not to invest in the Islamic Republic.
Iran sits atop the world’s second-largest gas reserves after Russia. But politics, sanctions and construction delays have slowed its gas development and analysts say it is unlikely to become a major exporter for a decade.
The huge oil and gas reserves are a strong magnet for international energy companies despite the political risks.
“Officials of Iran’s Oil Ministry and the managing director of the Austrian OMV have signed a gas agreement worth $18bn,” Iranian state radio said. The Oil Ministry’s Shana news agency estimated the long term value at $30bn.
OMV said it had signed a so-called Heads of Agreement – a non-binding document outlining the main issues of a tentative partnership accord-with Iran’s national oil company NIOC.
It concerned participation in the development of an area of the South Pars gas field, an LNG plant and a subscriber agreement for such gas, it said. LNG is gas frozen to liquid for transport in special tankers, avoiding the need for pipelines.
TALKS CONFIDENTIAL
The Austrian firm said Iran could supply LNG for a Croatian regasification plant which OMV is helping to set up and which should start operating in 2011-2012.
It added: “Further talks on this matter are confidential. Concrete results are not expected until the second half of 2007.”
UN sanctions have been imposed on Iran for its refusal to halt enrichment of uranium, but OMV spokesman Thomas Huemer said the agreement with Iran did not violate any international rules.
“We are acting within the framework of Austrian law, European law and the United Nations’ rules,” he said in Vienna.
Iran says its atom work is aimed at generating electricity so that it can export more of its valuable gas and oil.
Gazprom to open underground gas storage in Austria - Russian energy giant Gazporm, Germany's RAJ AJ and Russian-German Wingas are planning to open an underground gas storage facility in Haidach, Austria. Sergei Khan, head of Gazprom's underground gas storage department, told a forum on Russia's fuel and energy sector in St. Petersburg Wednesday that each of the partners would have a 33% share in the new facility. Khan said: "We have [signed] gas storage contracts with a number of countries, including Germany, Austria and England, and we are now taking up ownership." Gazprom also plans to build an underground gas storage facility with a capacity of 0.5 billion cubic meters of gas in Belgium, and is considering launching underground gas storage projects in China, Pakistan, India, Iran, Romania and Italy.
Khan said that ten independent companies had spun off from Gazprom's regional subsidiaries, which handle gas transportation. "By late this year Gazprom-PHG will take over these independent companies, and a unified body will be established," Khan said.
Not to be cynical, but the last time I remember an Austrian working with an Ayranian and radical Islamists, to control oil and people were talking about killing Jews, they serious.
Well Austria is doing it at the behest of the rest of Nato/Europe. Do you think that the deal is for Austrian demand alone?
Do you hate yourself and your own country? Do you want to be dependent on Pakistan for energy and pay tribute yearly to their army?
No, I don’t. But with America stalling the nuclear fuel deal, and the NPT preventing India from importing from Australia and other places, all the while having China endure NO restrictions(even whilst nuke-arming thugs like Pakistan, NK and Iran itself), is hurting the Indian economy worse than what a pipeline through Pakiland would do, for the near-mid term. I would absolutely hate to see India pay the Pakis money for the transit, but tell me about the other alternatives...
Keep blaming America for all your problems. That way you’ll never have to face up to your mistakes.
Very smart. So ahead with the pipeline then? Wait, what was that? America will then blame India for aiding Iran, instead of fixing the problem herself? Noooo!
Idiot.
Why isn’t the US liberating Persia yet???No wait,they are planning to talk-gees just like those cowardly Indians kissing up to the Burmese generals.
Are you saying America is cowardly?
Iv’e seen you baiting folks on here for a longtime-don’t try it on me.
How come India doesn’t liberate Pakistan? Too busy cutting deals with them and deciding how much India will pay them to deliver Iranian gas?
More or less the same way,the US needs Iran to stabilise Iraq so that the Iraqi oil starts flowing.
Like we needed Saddam to stabilize Iraq?
When you can’t offer logical arguments-rely on baiting.How pathetic
Well, India was against our liberation of Iraq, just like they are against any attack on Iran. You disagree with India, then?
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