India seeks cheap gas for investing in Iran’s petrochem sector

TEHRAN, Aug. 18 (MNA) – Investment Manager of National Petrochemical Company (NPC) Hossein Alimorad said that India has always showed its vehement interest to make huge investment in Iran’s petrochemical sector but seeks importing cheap gas from the Islamic Republic of Iran in return. Speaking on the latest situation of talks with India for the implementation of petrochemical projects in the country, he said, “Indian refiners demand high discount for exporting gas from Iran to their country.” Iran has considered special discount to exporting gas to India’s disadvantaged and underprivileged areas but gas price cannot be halved, he maintained. Indians always come to a stage after holding a few rounds of petrochemical talks, he said, adding, “when the two countries reach an agreement in relevant issue, Indian refiners claim Iran’s gas price is high and demand price decline.” “We are of the opinion that Iran’s gas price is not high and is appropriate for any project they [Indian refiners] seek, observing requirements of international standards, he emphasized. Elsewhere in his remarks, Alimorad pointed to the high tendency of Indian firms to invest in Chabahar port and said, “since Chabahar port is known as a developing region, if India invests in petrochemical projects of this region, Iran will offer 30 percent discount for Indian firms in terms of feedstock.” Unlike India, Chinese firms are ready to make huge investment in Iran’s petrochemical sector with the same gas price, he reiterated. Suitable investment opportunities have been paved for India, Pakistan and Malaysia in Chabahar region, he concluded.