IRAN SIGNS NATURAL GAS DEAL WITH SYRIA, IRAQ
Tert.am
25.07.11
Iran on Monday signed a preliminary $10 billion deal with Syria and
Iraq to export its natural gas, its latest effort to boost its energy
sector that has been targeted by international sanctions.
Under the memorandum of understanding signed by the three countries’
oil ministers, a 5,000 kilometer (3,100 mile) pipeline will be built
to carry gas from the giant South Pars field that Iran shares with
Qatar, the Washington Post reported.
The gas would move through Iraq, Syria and Lebanon, to the
Mediterranean, with Europe targeted as the final export destination,
according to state television and the Oil Ministry’s web site, Shana.
The deal would also supply gas to Syria, which lacks the kind of oil
and gas resources of Iran and Iraq – two key OPEC members.
Deputy Oil Minister Javad Owji was quoted by state television as
saying that the pipeline would take three to five years to build. A
search for a contractor and financier would begin after the signing
of the MOU, Owji, who also serves as the managing director of the
National Iranian Gas Company, was quoted as saying by Shana.
Owji said South Pars has sufficient gas reserves for 250 million
cubic meters per day of exports for the next 80 years.
From: Emil Lazarian | Ararat NewsPress
Disclaimer: This article was contributed and translated into English by Emil Lazarian. While we strive for quality, the views and accuracy of the content remain the responsibility of the contributor. Please verify all facts independently before reposting or citing.
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