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Iran Signs Natural Gas Deal With Syria, Iraq

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  • Iran Signs Natural Gas Deal With Syria, Iraq

    IRAN SIGNS NATURAL GAS DEAL WITH SYRIA, IRAQ

    Tert.am
    25.07.11

    Iran on Monday signed a preliminary $10 billion deal with Syria and
    Iraq to export its natural gas, its latest effort to boost its energy
    sector that has been targeted by international sanctions.

    Under the memorandum of understanding signed by the three countries'
    oil ministers, a 5,000 kilometer (3,100 mile) pipeline will be built
    to carry gas from the giant South Pars field that Iran shares with
    Qatar, the Washington Post reported.

    The gas would move through Iraq, Syria and Lebanon, to the
    Mediterranean, with Europe targeted as the final export destination,
    according to state television and the Oil Ministry's web site, Shana.

    The deal would also supply gas to Syria, which lacks the kind of oil
    and gas resources of Iran and Iraq - two key OPEC members.

    Deputy Oil Minister Javad Owji was quoted by state television as
    saying that the pipeline would take three to five years to build. A
    search for a contractor and financier would begin after the signing
    of the MOU, Owji, who also serves as the managing director of the
    National Iranian Gas Company, was quoted as saying by Shana.

    Owji said South Pars has sufficient gas reserves for 250 million
    cubic meters per day of exports for the next 80 years.



    From: Emil Lazarian | Ararat NewsPress
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