India and Iran have signed an agreement to export natural gas to India. Besides this, the agreement also gives Indian companies a 20 percent share in the development of Iranian gas fields.
According to the agreement, Iran will ship five million tons of liquefied natural gas (LNG) to India per annum for the next 25 years, with an option to increase the amount to 7.5 million tons.
Initial negotiations on the agreement began last November following months of talks about the possibility of India investing in Iran
