DUBAI, Sept 30 (PTI): Iran and Pakistan have finalised a deal on USD 7.4 billion gas pipeline project without the participation of India, ending settled differences on the agreement during four-day negotiations in Tehran.

The two countries have agreed to sign draft agreement and a letter of understanding by the end of October, a senior Iranian official said yesterday.

The India-Pakistan-Iran talks in Tehran, which began on September 24, was not attended by India, who said it will not attend the tri-nation meetings unless transit fee issue is resolved with Islamabad.

Iranian Oil Minister's special representative Hojjatollah Ghanimifard, however, said "Iran welcomes India whenever it joins us in the peace pipeline project."

Ahmed Mokhtar, a senior advisor to Pakistani Prime Minister Shaukat Aziz and the country's Petroleum Secretary Farooq Qayyum, represented Pakistan at the talks.

The two countries are now scheduled to sign the final deal by November.

The two sides have prepared the final text of the agreement and Iranian and Pakistani officials will meet again in Islamabad on October 15-19.

Iranian Oil Minister's special representative Hojjatollah Ghanimifard told the official Iranian news agency that both countries have reached consensus on "all conditions of the deal, and the draft agreement is ready to be signed by lawyers and experts of different technical, financial and commercial sectors The Iranian and Pakistani representatives have settled differences on the deal during four-day negotiations which lasted until last night, IRNA reported Saturday.

"According to the negotiations, the Pakistani side is to submit the draft agreement to us next week, and we will declare our views on it in a week," Ghanimifard said.

He noted that the last round of the discussions will be held in Pakistan in mid October. "The two sides will explore the draft agreement not to be contrary with the MoU already signed by the leaders of the countries parties to the project," he said.

According to the initial agreements in 1990, the project was to be carried out by Tehran, Islamabad and New Delhi to transfer Iranian natural gas to India through Pakistan. The 2,600 km pipeline would carry 60 and 90 million cubic meter of gas a day to Pakistan and India respectively.