Participating nations close to 'formulation' over IPI gas pricing

New Delhi, Jan 31 (UNI) India, Pakistan and Iran are close to a ''formulation'' over the pricing of gas to be delivered via a proposed 7-billion dollar Iran-Pakistan-India gas pipeline project.

''We are closer to some kind of formulation after talks between the three participating countries held recently in Iran to break the jinx confronting the project,'' Additional Secretary Ministry of Petroleum and Natural Gas Anil Razdan told reporters on the sidelines of a conference here today.

The prospects of Iran gas pipeline seems to be better, he added.

Though no details of the formula or the agreed price range was shared by him, he expressed the hope that the three governments were closer to some kind of formulation.

There has been assumptions that negotiators at the trilateral talks have reached some arrangement which now will be submitted to the respective governments for approval.

The trilateral talks concluded recently in Tehran, aimed at reaching a consensus over the price.

UNI