| "Their (Iranians) offer price was unacceptable. We cannot buy LNG at that price," a senior official said. The price was much higher than $4 2.53 per million British thermal unit (mbtu) price at which Petronet LNG Ltd currently buys from Qatar. |
| Iran, which holds the world's second largest gas reserves, wants to sell 5 mt per annum of LNG to India and offered developmental rights on an oil field. Speaking to reporters, Petroleum Secretary SC Tripathi said the difference in price was about $1-2 per mbtu. |
| He said Iran is offering two oil fields to India. It is offering ONGC Videsh, a 20 per cent stake on nomination basis in the Yadevaran oilfield with a potential of 300,000 barrels per day. |
| In the event of India wanting 7.5 mt of LNG, it will be accompanied by more than 50 per cent stake with operatorship rights in Juffair oilfield which has a potential of about 30,000-40,000 barrels per day. |
| The secretary said India would like to go for a 30-year mutual dependent relationship rather than going by the market fluctuations in the last three to four months. |
| He admitted that the price negotiation would have been less difficult three to four years back. |
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