India is willing to rejoin the peace pipeline project, the Additional Secretary of India's Ministry of Petroleum and Natural Gas Shri Sudhir Bhargava said.
During his meeting with Iranian Deputy Oil Minister for International and Commercial Affairs Ahmad Khaledi, the Indian official went on to say, "India welcomes boosting oil and gas ties with Iran."
Bhargava entered Tehran on December 19. During his two-day visit the Indian official discussed oil and gas issues with Iranian Oil Minister Masoud Mirkazemi, National Iranian Gas Company's Managing Director Javad Oji, and other officials, SHANA news agency reported on Wednesday.
The IPI gas pipeline is a proposed 2,775-kilometer pipeline to deliver natural gas from Iran to Pakistan and India.
The three countries conceptualized the Peace Pipeline project in the 1990s to help boost peace and security in the region.
Due to the tense India-Pakistan relations, New Delhi stepped back from the later stages of negotiations, although it has never formally withdrawn from the project.
Iran's proved natural gas reserves are about 1,000 trillion cubic feet, of which 33 percent are as associated gas and 67 percent is in non associated gas fields. It stands as the world's second largest gas reserves after Russia.