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 volume 7, issue #22 - Wednesday, November 13, 2002

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EU to finance Iran-Europe gas pipeline study

21-10-02 An EU energy official confirmed that feasibility studies on the construction of a pipeline in Greece to export Iranian gas through Turkey to Europe would start in November. The official said the EU would finance the $ 10 mm (£ 6.4 m) study. He claimed to be unaware of US pressures on Greece and EU to block the project.
"The US embargo doesn't apply to the EU. Talks are going on," he said.

Iran meets about 8 % of Europe's oil needs, whereas gas exports stands at zero. Iran started gas exports to Turkey early this year for the first time since the 1979 Islamic revolution. However, Turkey stopped its imports in June, demanding lower price.
The quarrel between the two neighbours has been settled and exports will be resumed in the near future.

Source: The Financial Times



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