Monday, September 18 2006 12:58 Hrs (IST) - World Time -

London: India said it is optimistic about the ambitious seven billion dollar Iran-Pakistan-India gas pipeline project taking a concrete shape.

The three countries already had secretary-level and ministerial-level meetings in this connection, Union Minister for Petroleum and Natural Gas Murli Deora said here.

"We have been informed that a final decision on the issue would be taken by the Iranian President Mahmoud Ahmadinejad and the Majlis.

"We are sure Iran will honour their agreement to provide five million tonnes of liquefied natural gas to India from 2009-10 for 25 years," Deora told reporters here at the conclusion of his visit to Vienna and the UK.

In Vienna, he attended the 3rd OPEC International Seminar. The minister said, "Pakistan is also very keen hat the Iran-Pakistan-India pipeline project goes through."

The proposed pipeline is expected to transport 90 million standard cubic metres of gas every day from Iran's South Pars fields to India from 2009-10 onwards while Pakistan would receive 60 million standard cubic meters.

"There are a lot of hurdles but we hope to make things work. We need the gas from Iran to meet energy needs of India and we are committed to make the project happen," Deora said.

He said "we are also positive about the Turkemenistan Afghanistan Pakistan India (TAPI) pipeline initiative of the Asian Development Bank (ADB).

"Earlier in the day, Deora participated in a conference organized by the Judge Business School, Cambridge at Cambridge on "Business prospects and geopolitics in Central Eurasia," he said.