{"id":34305,"date":"2018-10-30T16:51:35","date_gmt":"2018-10-30T11:21:35","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=34305"},"modified":"2018-10-30T16:51:35","modified_gmt":"2018-10-30T11:21:35","slug":"india-may-lose-farzad-b-gas-field-bid","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/india-may-lose-farzad-b-gas-field-bid\/","title":{"rendered":"India may lose Farzad B gas field bid:\u00a0"},"content":{"rendered":"<p><a href=\"http:\/\/www.thehindu.com\/news\/international\/india-may-lose-farzad-b-gas-field-bid\/article19940127.ece?homepage=true\"><span style=\"font-weight: 400;\">India may lose Farzad B gas field bid<\/span><\/a><span style=\"font-weight: 400;\">:\u00a0<\/span><\/p>\n<p><b>Context<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Iran miffed as India not \u2018flexible\u2019 on pricing; quality of gas a concern, says petroleum ministry official<\/span><\/li>\n<\/ul>\n<p><b>What is Farzad B gas field?<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The Farzad B gas field is an Iranian natural gas field that Indian companies discovered the in 2008<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">It is located in Persian Gulf within territories of Iran and produces natural gas and condensates.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Indian government is trying to negotiate a deal to get rights to dig oil.<\/span><\/li>\n<\/ul>\n<p><b>Why is it important for India?<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">India offered $11bn to develop Iran&#8217;s Farzad B gas field.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The total in place reserves of the Farzad B gas field are around 21.7 trillion cubic feet of which around 60 percent is recoverable<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">India is the world\u2019s fourth-largest LNG buyer due to its spur use of cleaner-burning fuels<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Even as Iranian government officials have said that India is close to losing its bid for the Farzad B gas field, Indian officials in the Petroleum Ministry downplayed the situation, saying it is all part of the negotiation process.<\/span><\/li>\n<\/ul>\n<p><b>What is the present status of the negotiations?<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Iran\u2019s Ministry of Petroleum has started preliminary talks with Russians to develop Farzad B but negotiations also continue with the Indian government<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Majlis Energy Commission stated that there is no clause which mentions that the contract would ultimately be awarded to India<\/span><\/li>\n<\/ul>\n<p><b>India- Iran Bilateral Relations<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">India has worked hard to maintain its ties with Iran when there were international sanctions on Iran from all sides. Bilateral trade with Iran suffered due to banking and insurance censures<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">In 2015, India liberalized its visa policy for Iran and struck it off the prior referral category (PRC) of countries.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Iran can be the key supporter of India in the wake of the growing influence of terror groups such as the Islamic State.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">India lined up USD 20 billion as investment in oil &amp; gas, petrochemical and fertilizer projects in Iran.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">In May 2016, PM Modi visited to Iran, where the historic Chabahar port agreement was signed which is a contract for the development and operation of the port for 10 years of 2 terminals and 5 berths.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">There was a MoU on provision of services by Indian Railways, including financing $1.6 billion, for Chabahar-Zahedan railway line.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">India will invest in setting up industries from aluminum to urea plants in Chabahar.<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>India may lose Farzad B gas field bid:\u00a0 Context Iran miffed as India not \u2018flexible\u2019 on pricing; quality of gas a concern, says petroleum ministry official What is Farzad B gas field? The Farzad B gas field is an Iranian natural gas field that Indian companies discovered the in 2008 It is located in Persian&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/india-may-lose-farzad-b-gas-field-bid\/\">Continue reading <span class=\"screen-reader-text\">India may lose Farzad B gas field bid:\u00a0<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[555],"tags":[],"class_list":["post-34305","post","type-post","status-publish","format-standard","hentry","category-test-1","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704884855},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/34305","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=34305"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/34305\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=34305"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=34305"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=34305"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}