Construction of Iran-Turkey gas pipeline to cost EUR 3.4 bn

Nov 05, 2007 01:00 AM

It will cost Iran $ 5 bn (EUR 3.4 bn) to construct a new pipeline that will carry its gas to Turkey and Europe.
Iran is to export 110 mm cm of gas to Turkey per day with the planned pipeline, Seyyed Reza Kassaeizadeh, Iran's deputy oil minister for gas affairs, was quoted as saying. The project will be done according to the build-own-operate (BOO) scheme, he added.

The official said that the private sector is in charge of operating the plan and will be allotted some privileges from National Iranian Gas Company for services it offers. Currently, there is already a 2,577-km gas pipeline between Turkey and Iran, which was put into use in 2001 after five years of construction. The pipeline enables Turkey to import 20-22 mm cm of natural gas per day.
By now, Iran has exported 20.74 bn cm of natural gas to Turkey since then.

In July this year, Ankara and Tehran reached a preliminary agreement on the exploitation of the natural gas reserves of South Pars on the southern Iranian coast. With the agreement, Turkey said its state-controlled oil company would invest some $ 3 bn (EUR 2 bn) over seven years in the construction of operating equipment.
In addition, Turkish and Iranian enterprises are supposed to develop joint ventures to construct a new pipeline system for the transport of the gas, which will extend to eastern Turkey and further to Europe.

Source / Xinhua News Agency
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