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Iran's Rich Gas Reserves Worry Regional Rivals

TEHRAN (Fars News Agency)- Iran's Pars gas pipeline is a serious rival for the Nabucco and South Stream pipelines respectively backed by European Union and Russia, a Russian daily wrote.

Iran is planning to operate the Pars gas pipeline worth 4 billion dollars to transmit its natural gas to Europe.

Iran wants to sell 37 billion cubic meters of gas yearly through the pipeline which crosses Turkey, Greece, Italy, Sweden, Austria and Germany, the Iranian students news agency said citing a report by the Russian daily RBC.

Nabucco gas pipeline transferring 26 to 32 billion cubic meters of gas from central Asia to Europe bypasses Russia. The South Stream a joint venture of the Russian giant Gazprom and the Italian Eni is geared to convey 30 billion cubic meters of gas from Russia and probably central Asia to Europe through Black Sea. Both projects will be operated by 2013.

If ties between Tehran, Brussels warm up almost all big companies of Europe including Eni, Shell and BP would be interested to join the project.

Pars pipeline puts Nabucco at risk of a gas shortage by affecting its raw resources.

... Payvand News - 10/1/08 ... --

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