Iran News ...


02/02/10

Iran plans $9B investment in gas sector


TEHRAN, Feb. 2 (Mehr News Agency) - Iran plans to invest up to $9 billion by the next five years to boost infrastructures in its gas sector, the head of National Iranian Gas Company said.

"Construction of 5 to 6 thousand kilometers of gas transfer pipeline and 20-22 gas pressure regulating stations have been anticipated in the fifth development plan (2010-2015)," Javad Owji said, SHANA news agency reported.

Iran has received proposals worth around $20 billion for investment in its oil and gas sector from foreign companies, Iranian Oil Minister Masoud Mirkazemi announced in January, according to Press TV.

"Foreign investment in the oil and gas sector could surpass that level, should we agree with interested companies," the minister added.


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In November 2009, Iran had announced that an investment of $40 billion would be needed to develop the remaining phases of the giant South Pars gas field within 10 years.

Seyyed Reza Kasaeizadeh, managing director of the National Iranian Gas Export Company, said that the country''s gas sector needed to attract about $85 billion in investments within 10 years in order to maintain its export capacity.

Iran possesses the world''s second-largest gas reserves, almost 16 percent of the world''s total.

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