Iran approves Turkish gas deal

Oct 20, 2002 02:00 AM

Government spokesman, Abdullah Ramezanzadeh on 16 October stated that the Iranian Cabinet has approved a new agreement on the export of gas to Turkey. He said that the accord, already signed by the NIOC and the Turkish oil and gas company, Botas, was revised on the basis of a report submitted by the Oil Minister, Bijan Namdar Zanganeh.
The Cabinet had approved the amendment in consideration of national interests and the stiff competition in the world gas market.

On 16 October, Tehran and Ankara signed an agreement to resume Iranian gas export after a halt of 144 days by Turkey on quality grounds. Mr Zanganeh and Turkish Energy Minister Zeki Cakan expressed satisfaction with the agreement without mentioning whether they had reached any new accord on prices. Mr Cakan announced that his country had halted import of natural gas from Iran, via a pipeline, since June.
Iran and Turkey launched a 2,577 km pipeline in December last year, running from the north-eastern city of Tabriz to Ankara. Under the terms of the agreement, Iran would initially supply 3 bn cm of gas a year to Turkey, increasing the volume gradually to 10 bn cmpy in 2007.

Source: AME Info FZ LLC
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