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India/Iran negotiate US$1bn investment

In another blow to US sanctions India has offered to invest around US$1 billion to build an LNG p...

According to sources close to the deal, the offer was made by the Gail India Ltd-led consortium, which is aiming to import around five million tonnes per annum from Iran.

Gail is trying to lower the gas price - including the liquefaction cost - to around US$2 per million BTU. If it succeeds in doing this, the delivered cost of the regasified LNG will be around US$3 per million BTU.

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