To: Elmer Flugum who wrote (6679 ) 1/10/2005 12:01:16 PM From: GUSTAVE JAEGER Read Replies (3) | Respond to of 22250 Ooops... India has just thrown yet another monkey wrench into the Judeofascists' plan to attack Iran:South Asia Jan 11, 2005 India finds a $40bn friend in IranBy M K Bhadrakumar India's oil diplomacy took a giant leap forward on Friday when New Delhi unveiled a multibillion-dollar deal with Iran and Russia that will be crucial to India's long-term energy security, and took the initiative the same week to host the first-ever conference on regional cooperation among Asian oil-producing and consuming countries. In its US$40 billion deal with the National Iranian Oil Co (NIOC), India committed to import natural gas from Iran over a 25-year period and to develop two Iranian oil fields and a gas field. Iran will sell the liquefied natural gas (LNG) to India at a price linked to Brent crude oil. According to the agreement, India will pay $1.2 plus 0.065 of Brent crude average, with an upper ceiling of $31 per barrel. Iran will ship 5 million tonnes of LNG to India annually, with a provision to increase the quantity to 7.5 million tonnes. As part of the deal, India's ONGC Videsh Ltd (OVL) gets a 20% share in the development of Iran's biggest onshore oilfield, Yadavaran. The Indian company will also get 100% rights in the 300,000-barrel-per-day Jufeir oilfield. The stake in Yadavaran translates into 60,000 barrels per day of oil for India. Significantly, Chinese state oil company Sinopec (China National Petroleum and Chemical Corp) operates the Yadavaran field. With the deal signed in Delhi, India will now hold a 20% stake in Yadavaran, Iran 30%, while China retains its existing 50% share. In March, Beijing and Tehran signed a deal worth $100 billion. Billed as the "deal of century", this agreement is likely to increase by another $50 billion to $100 billion, bringing the total close to $200 billion, when a similar oil agreement, currently being negotiated, is inked. The gas deal entails the annual export of some 10 million tonnes of Iranian LNG for a 25-year period, as well as the participation, by China's state oil company, in such projects as exploration and drilling, petrochemical and gas industries, pipelines, services and the like. India also confirmed that it is talking to Russia for investing in crumbling oil major Yukos. Officials in New Delhi said ONGC was considering investing $2 billion for a stake in Yuganskneftegaz, the main production unit of Yukos, which was auctioned last month in Moscow in a cloak of mystery. Incidentally, Russia recently offered a 20% stake in Yuganskneftegaz to Sinopec. In the event of both India and China taking shares in Yuganskneftegaz, it would become a triangular Russian-Chinese-Indian collaboration - alongside the envisaged Chinese-Indian-Iranian cooperation in Yadavran. The trend puts paid to the Great Game theorists who have speculated on the inevitability of a Sino-Indian rivalry in the race for energy. At a meeting with Indian Petroleum Minister Mani Shankar Aiyar in Delhi in October, the Chinese ambassador proposed cooperation between the two countries in the energy sector. A framework agreement on such cooperation could be signed during the visit of Chinese Prime Minister Wen Jiabao to India in March. China signed a similar agreement with Pakistan last month during the visit of the Pakistani prime minister to China. It's evident now that India is working on a coherent, long-term energy plan. The country is making it clear that it views Iran and Russia as two pivotal partners in its quest for energy. An early sign of the Indian thinking was evident when Aiyar visited Moscow in October for discussions with the Russian government on energy cooperation. In a far-reaching statement, Aiyar compared the significance of India's cooperation with Russia in the energy sector in the coming years with Indo-Soviet cooperation in the security field. "In the first half-century of Indian independence, Russia has guaranteed our territorial integrity, and in the second half it may be able to guarantee our energy security. What I am talking about is the strategic alliance with Russia in energy security, which is becoming for India at least as important as national security," he had said. [...]atimes.com From now on, for the US and/or Israel to mess with Iran will be tantamount to mess with both China and India... Is WWIII next?