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Iran Ready for Gas Pipeline Agreements

Service : Economy
TEHRAN, May 12 (ICANA) – An agreement on the construction of a pipeline that would transfer Iranian natural gas through Iraq and Syria is ready for signing, Tehran said.
Thursday, May 12, 2011 9:02:13 PM
Iran Ready for Gas Pipeline Agreements

Iran is eager to get its vast natural gas reserves to European markets, though economic sanctions are curtailing much of the effort. Nevertheless, Iranian Deputy Oil Minister Javad Oji said agreements on a gas pipeline to feed European markets are ready for signing.

"The first official agreement on the export and transit of (natural) gas is now ready to be signed between Iran, Iraq and Syria," he was quoted by the semiofficial Fars News Agency as saying.

Natural gas from the giant offshore South Pars complex would go through a 3,480-mile pipeline planned through Iraq to Syrian ports on the Mediterranean Sea.

The pipeline, said the deputy minister, would have a designed capacity of around 3.8 billion cubic feet of natural gas per day. Iran said it could also designate some of the gas from South Pars for a pipeline through Pakistan, though Tehran's Asian counterparts are examining Western-backed alternatives.

Iran sits on the second-largest natural gas reserves in the world after Russia.

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