Iran is in negotiations to lay a $4.5-billion subsea pipeline to export natural gas to India, said the company’s managing director.

National Iranian Gas Export Company (NIGEC) is in talks with South Asia Gas Enterprise (SAGE), Alireza Kameli was quoted as saying in an Economic Times report.

The pipeline will have a capacity of about 31 million cu m of gas a day and the project will take about two years, the report said.