Iran suggest construction of Caspian Sea-Persian Gulf oil pipeline

Oct 11, 2008 02:00 AM

Iran's Foreign Minister Manouchehr Mottaki said the Islamic Republic suggests construction of a large oil pipeline to transport Caspian countries' oil to the Persian Gulf.
According to Mottaki, the Caspian Sea-Persian Gulf pipe will be advantageous and safe.

Iranian officials' statements about the importance of the energy security are not intended to gain profits. Energy consumers need that, said the Minister.
"Should security of routes not be provided, [uninterrupted] export of oil will not be able to happen," Mottaki said at the meeting on International Oil Refining Industry in Tehran.

According to BP's World Energy Review of 2008, proved reserves of the Caspian countries totalled 265.2 bn barrels of oil by 1 January 2008, with 7 bn barrels of Azerbaijan, 138.4 bn barrels of Iran, 39.8 bn barrels of Kazakhstan, 79.4 bn barrels of Russia, and 0.6 bn barrels of Turkmenistan.

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