Iran to invest $ 90 bn in gas transmission in 20 years

Oct 17, 2007 02:00 AM

Iran will invest some $ 90 bn in the next 20 years as part of plans to expand the country's natural gas transmission network to meet rising domestic demand.
National Iranian Gas Co., or NIGC, will spend the money under a 20-year program, which will see a total of $ 130 bn being invested by the state-run company, managing director Seyed Reza Kassaeizadeh was quoted as saying.

"Based on the 20-year outlook plan, $ 130 bn will be invested, out of which $ 90 bn will be allocated to the gas transmission projects," Kassaeizadeh said.
The program will see the addition of 53,000 km of pipelines and 140 gas booster stations to an existing pipeline network with a length of 25,000 km and 52 booster stations.

The investments are needed to help Iran meet rising gas demand, in particular during the winter season.
"Under current circumstances, demand for gas in cold season is higher than supply and the output fails to meet the need," Kassaeizadeh was saying.

Source: Dow Jones & Company
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