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Iran to sign biggest gas transfer deal to Europe

Source: ISNA

Iran, Syria and Iraq are going to sign the biggest deal for transfer of Iran's gas to Europe on Monday. Iranian Oil Ministry Caretaker Mohammad Aliabadi as well as oil ministers of Iraq and Syria would join the ceremony and choose name of the pipeline in Assaluyeh, southern Iran, said the Chief Executive of Iran's National Gas Company, Javad Ouji.

"Iran's gas output would be doubled within next two-three years due to expansion of gas fields, which makes possible export of 250 million cubic meters of gas per day," he told a press conference on Sunday.

He said the country's gas output hits 2.2 billion cubic meters daily if all phases of South Pars gas field join national grid.

The three-lateral pipeline starts from Assaluyeh and stretches across Iraq, Syria, Mediterranean Sea and Europe.

The pipeline is 5,000 km long, 750 km of which lies inside Iran. Two or three phases of South Pars gas field provide the required gas for the pipeline.

The pipeline with the capacity of 56 inches is capable to transfer 110 million cubic meters of gas per day. The project costs 10 billion dollars.

He continued up to 6 European investors have expressed their readiness to build the pipeline.

Iraq is to export up to 25 million cubic meters of its gas through the pipeline and Syria provides part of its need through the venture.

The pipeline's contract would be concluded by March 2012 and it would be constructed in next 3-5 years.

The price of the transferred gas would be calculated based on the formula already used by Iran.

... Payvand News - 07/24/11 ... --

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