Iran's rich gas reserves worry Russia and Europe

Oct 05, 2008 02:00 AM

Iran's Pars gas pipeline is a serious rival for the Nabucco and South Stream pipelines respectively backed by European Union and Russia.
Iran is planning to operate the Pars gas pipeline worth $ 4 bn (EUR 3.12 bn) to transmit its natural gas to Europe. Iran wants to sell 37 bn cm of gas yearly through the pipeline which crosses Turkey, Greece, Italy, Sweden, Austria and Germany.

Nabucco gas pipeline transferring 26 to 32 bn cm of gas from central Asia to Europe bypasses Russia.
The South Stream -- a joint venture of the Russian giant Gazprom and the Italian ENI -- is geared to convey 30 bn cm of gas from Russia and probably central Asia to Europe through Black Sea. Both projects will be operated by 2013.

If ties between Tehran, Brussels warm up almost all big companies of Europe including ENI, Shell and BP would be interested to join the project.
The Pars pipeline puts Nabucco at risk of a gas shortage by affecting its raw resources.

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