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MP welcomes construction of Islamic Pipeline

Iran-Iraq-Syria Strategic Integration in Energy Field

Service : Economy
TEHRAN, August 2 (ICANA) – Vice chairman of the Energy Commission of the Majlis Naser Sudani says a planned ‘Islamic pipeline’ to transit Iranian gas to Islamic countries will provide strategic integration between Iran, Iraq and Syria.
Tuesday, August 02, 2011 10:14:08 AM
Iran-Iraq-Syria Strategic Integration in Energy Field

Speaking to ICANA on Monday, the senior lawmaker urged the oil industry officials to work towards keeping Europe’s need for Iranian oil and gas alive.

In order to ship 110 million cubic meters of gas every day to Syria and Iraq, he said the trend of development of new phases in South Pars oilfield must be accelerated.

Iran, Iraq and Syria last week 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.

The MP welcomed the construction of the huge pipeline and said an international consortium will implement the project to ensure the strategic goals of Iran, Syria and Iraq would be realized.

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.

Iransits 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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