NEW DELHI: Iran is discussing a plan to lay a $4.5 billion subsea pipeline to export natural gas to India, but the proposal of another pipeline between the two countries through Pakistan is off the table due to waning Indian interest, National Iranian Gas Export Company’s managing director Alireza Kameli said.“We are negotiating with our counterpart SAGE company on behalf of Indian gas consumers to discuss about laying the sea pipeline from Iran to India,” said Kameli.New-Delhi-based SAGE, or South Asia Gas Enterprise, is the leader of a private consortium that has been marshalling support for an undersea pipeline between Iran and India for years and is pinning hopes on the waiver of sanctions imposed by the Western nations on Iran to help expedite the project.The proposed Iran-India subsea pipeline, with a carrying capacity of about 31 million cubic metres of gas a day, can be constructed in about two years after the policy, financing and purchase tie-ups are firmed up.“These are all geopolitically sensitive projects, but now the time has come because Iran sanctions are going away,” said Subodh Kumar. Jain, director at SAGE, has appointed SBI Cap as its financial adviser for the project.Jain said he is hoping to tie up finances for the project next year and build the pipeline in about five years. SAGE’s pipeline will be a common carrier with an expected transit fee of about $2.25 per unit.