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Iran signs 25-year contract to sell gas to UAE: official

According to reports by Islamic Republic News Agency (IRNA), Iran has signed a 25-year agreement to sell over 14 billion cubic meters of natural gas per day to the United Arab Emirates, a senior official for gas exports said in Tehran on Tuesday.

The exports will begin in 2005 and Iran will sell 14.16 billion cubic meters of gas per day to the Persian Gulf emirate, Rokneddin Javadi, managing director of the Iranian Gas Exports Company, said.

"The accord for selling Iranian gas to the (United Arab) Emirates was concluded in Esfand (Feb/March, 2003) and the preparations are underway to start the export," he added.

Iran has also held negotiations with Armenia for sale of gas and preliminary agreements to this effect have been made, Javadi said.

Studies on laying gas pipelines to take Iranian gas to Armenia have been completed and executive operations to start, he added.

Iran sits on the biggest proven gas reserves of the world -- put around 28 trillion cubic meters -- after Russia. Half of this lies in an offshore field which the country shares with Qatar in the Persian Gulf.

The Islamic Republic has already been exporting natural gas to Turkey under a 30-billion-dollar deal, according to which Iran is bound to supply 10 billion cubic meters (350 billion cubic feet) of gas per year.

In December 2001, the two countries launched a 2,577-kilometer pipeline, running from the northeastern city of Tabriz to Ankara to supply gas from southern Iran near the Persian Gulf.

Officials have said that Iran looked at Turkey as 'a gateway for the export of its natural gas to European markets'. The country also expects to export gas to India.

... Payvand News - 4/22/03 ... --

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