♤ The Iran-Pakistan-India (IPI) gas pipeline project: In 1993, Pakistan and Iran announced a plan to build a gas pipeline, which Iran later proposed extending into India. Dubbed the "peace pipeline“.

♤ New Delhi has not been participating in talks on the 1,036-km Iran-Pakistan-India gas pipeline since 2007 citing security and commercial concerns but has never officially pulled out of the $7.6 billion project.

♤ It had succumbed to the sanctions regime as well as fierce opposition from the US, with Washington pushing for the rival Turkmenistan-Afghanistan-Pakistan-India (TAPI) project. Lifting of sanctions provide an opportunity to consider this project afresh.

♤ The Farzad-B gasfield, according to India holds reserves of almost 19 trillion cubic feet. The consortium, which includes Indian Oil Corp. and Oil India Ltd., has been trying to secure development rights to the Farzad-B gas field since at least 2009. OVL also leads a group that discovered Farzad B natural gas field off Iran under an exploration services contract. ONGC Videsh and Indian Oil each own 40 percent interest in the Farsi block that holds Farzad-B field, while Oil India has 20 percent.

♤ The joint statement in 2018 makes a reference to the Farzad B gas field, there is need to do more to bring the negotiations to a conclusion.