Iran plans major gas exports to Europe

Oct 29, 2008 01:00 AM

Iranian gas export officials announced plans to develop a natural gas pipeline to Europe set to go online within the next six years.
National Iranian Gas Export Co. Director Reza Kasaizadeh said the Persian Pipeline will be operational by 2014. The pipeline will run through Turkey and on to European markets, he said.

He acknowledged economic sanctions imposed on the Islamic Republic for its controversial nuclear program are having a negative effect but do not hinder plans to expand its gas export potential.
"We have many projects on the way, and our plan is to cover around 8 (%) to 10 % of the global gas trade by the year 2025," he said.

Several Western energy firms, notably the French Total, pulled back from projects in Iranian gas fields in 2008. Turkey, however, imports around 353 bn cf of natural gas from Iran each year. Turkish pipeline firm BOTAS warned Ankara the country faced gas shortages during the coming winter if improvements faltered on Iranian gas infrastructure from theSouth Pars gas field.
Iran boasts the second-largest natural gas reserves in the world.

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