Indian Oil Minister to Push for Proposed Iran-India Pipeline via Pakistan

[Gloria]

Note: both these stories show how countries are defying the US empty threats about how no one should deal with Iran ....

From the new World Media Watch up now at http://www.zianet.com/insightanalytical
Tomorrow at Buzzflash.com


3//The Daily Star, Lebanon Friday, June 03, 2005

http://www.dailystar.com.lb/article.asp?edition_id=10&categ_id=3&article_id=15597



INDIAN OIL MINISTER TO PUSH FOR PROPOSED IRAN-INDIA GAS PIPELINE VIA PAKISTAN

Talks between Mumbai and Islamabad to start this weekend

By Agence France Presse (AFP)

NEW DELHI: Indian Oil Minister Mani Shankar Aiyar is hopeful upcoming talks with Pakistan on a proposed route for a gas pipeline from Iran will lead to an agreement that attracts companies and finance for the multi-billion-dollar project.



Aiyar will travel to Islamabad at the weekend to meet his counterpart Amanullah Khan Jadoon to discuss a proposed 2,775-kilometer energy corridor in Pakistan to deliver gas from Iran's South Pars field to the Indian border.


(snip)


The country had been holding out for construction of the pipeline only if overall economic dealings with Pakistan widened but in February the federal Cabinet decided to delink the pipeline from the overall peace process.



However, the United States has thrown a spanner in the works by noting its Iran-Libya Sanctions Act prohibits countries from major investment in Iran and U.S. Secretary of State Condoleezza Rice warned India in March the gas pipeline could trigger sanctions under the law. The U.S. law makes it illegal for companies to invest more than $20 million in Iran and extends the prohibition to foreign firms by excluding them from business deals in the United States if they cross the limit.



Aiyar said the warning by Rice has been overblown. "First, there is no pressure on the government of India to abandon this project," Aiyar said. There is no pressure to desist. The matter has come up for discussion with the U.S. and we believe we need to meet our energy requirements and this can be done with gas from Iran."


ALSO:


4//The Japan Times, Japan June 3, 2005

http://www.japantimes.co.jp/cgi-bin/getarticle.pl5?nb20050603a3.htm



ITOCHU PLANS MAJOR IRAN INVESTMENT



Trading giant Itochu Corp. announced Thursday that it will launch a partnership with two Thai firms in a bid to begin producing polyethylene in Iran in 2008 in a deal that would make it the first Japanese company to invest in Iran since 1989.



Itochu will sign corporate alliance pacts with the Siam Cement Public Co. group and Thailand's state-run PTT Public Co. group for the 25 billion yen investment, the company said.



Itochu and the Thai firms will establish an investment firm in Iran later this month along with Iran's state-run National Petrochemical Co., according to Itochu.


(SNIP)


A U.S. law restricts business operations by companies engaging in oil and natural gas development projects in Iran from operating in the United States, due to Tehran's suspected nuclear arms program.



Itochu and its partners believe their petrochemical investment in Iran will not go against the U.S. law as it will not involve oil-related development, Itochu said.



Of the 25 billion yen needed for the investment, about 70 percent will be financed by loans from parties that include the Japan Bank for International Cooperation.

[VegasWolf]

1. India to bush, fuck you! What are you going to do? Invade us? Then who

will be your customer support center?

[whistle]

2. Great idea...is the Carlyle Group in or out of the deal?

...If they are in, then everything will be fine. But, if they are out, that will be the next hot spot before 2010.