Tasnim � Iranian Oil Minister Bijan Namdar Zanganeh said the country has accepted Russia�s proposal to construct a subsea pipeline for exporting natural gas from the Islamic Republic to India.

Speaking to reporters at a press conference in Tehran on Tuesday, Zanganeh dismissed as �untrue� claims that he had not accepted the Indians� proposal to construct the subsea pipeline, saying that the suggestion was put forward by the Russians and Iran welcomed it.

He further said during a visit to Iran by Russian President Vladimir Putin in the last Iranian year (March 2017- March 2018), a memorandum of understading (MoU) was signed with the Russian energy minister and the Gazprom in this regard.

Currently, Russians are responsible for pursuing the construction of the pipeline, the oil minister went on to say.

Back in 2015, the then managing director of the National Iranian Gas Export Company, Alireza Kameli, said the country was in talks on a plan to lay a $4.5 billion subsea pipeline to export natural gas to India.

The planned pipeline from the Iranian coast via the Oman Sea and Indian Ocean to Gujarat was proposed to carry 31.5 million standard cubic meters gas per day and will be built in two years, from the date necessary approvals and a gas sale and purchase agreement are signed, he said at the time.