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MP: Islamic Pipeline to Promote Global Status of Iran Gas Industry

Service : Economy
TEHRAN, July 30 (ICANA) - A member of the Energy Commission of the Majlis says a planned ‘Islamic pipeline’ to transit Iranian gas to Islamic countries will promote the global status of Iran’s gas industry.
Sunday, July 31, 2011 10:16:59 AM
MP: Islamic Pipeline to Promote Global Status of Iran Gas Industry

Speaking to ICANA, Hosssein Amiri Khamkani urged Iranian gas industry officials to look for “short, safe and inexpensive” ways in transit of gas to other countries and reaping its benefits.

Iran, Iraq and Syria Monday signed the Middle East's biggest gas contract for the transit of Iranian gas from the country's South Pars gas field to Europe via Lebanon and the Mediterranean Sea.

The 10-billion-dollar agreement was inked by Iran's caretaker Oil Minister Mohammad Aliabadi and Oil Ministers of Iraq and Syria Abdul Kareem Luaiby and Sufian Alao on Monday.

The lawmaker said the construction of the major pipeline will greatly contribute to development of Muslim states. “Providing relative welfare to Muslims is one of the advantages of the Islamic gas pipeline,” said the MP.

The pipeline, Khamkani said, will help neighboring countries like Iraq develop and enhance security there. “Iraq is a strategic neighbor of Iran and its security has direct impact on Iran’s security,” said the lawmaker.

According to the deal, Iranian gas will be transited to European countries, including Greece, via a 5,000-kilometer pipeline from Iraq, Syria, Lebanon and the Mediterranean Sea.

Iraq has already said that it needs between 10 to 15 million cubic meters of Iran's gas, Syria about 15 to 20 million cubic meters, and Lebanon about five to seven million cubic meters until 2020.

Iran's Deputy Oil Minister Javad Owji said the country has the capability to produce some 600 million cubic meter gas every day and noted that the figure will be doubled after the inauguration of new phases of South Pars within the next years.

He further explained that the pipeline will ship 110 million cubic meter gas every day.

The Iranian official added that the project will take three to five years to be completed.

Iran sits on the world's second largest natural gas reserves after Russia and is trying to raise its gas production by increasing foreign and domestic investments, especially in its South Pars gas field.

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