Petroleum secretary S C Tripathi is leading a delegation to Tehran on November 23 to negotiate the price of LNG, official sources said in New Delhi.
Iran has offered to sell 5 million tonnes per annum of LNG at $2.57 per million British thermal unit (mBtu) but New Delhi is not willing to pay anything more than $2.40 per mBtu.
Iran has agreed to give ONGC Videsh, on nomination basis a 20 per cent stake in Yadevaran oil field, which is said to have a potential to produce 300,000 barrels per day, to get India to buy LNG.
Sources said India would insist on getting LNG at a price lower than $2.53 per mBtu which New Delhi is currently paying Qatar for importing similar quantities of LNG.
Sources said OVL was to compete with multinational giants like Total and Petronas of Malaysia for getting 51 per cent stake in Yadevaran oil field, recently renamed from Kush-Hossainieh, but Iran said it would give OVL 20 per cent stake from National Iranian Oil Company's 49 per cent stake after the bidding round concludes.
