Iran plans to sign more gas export deals with neighbors

Iran’s Oil Minister Bijan Namdar Zanganeh says the country is about to sign a second gas deal with Iraq.

The minister, who made the remark on Wednesday, did not disclose details of the new gas deal with Iraq.

“We are also looking to sign deals for gas exports to Oman and the United Arab Emirates,” said Zanganeh.

Earlier this month, Iraq’s deputy prime minister for energy Hussain al-Shahristani said his country plans to finalize a new contract with Iran on the import of natural gas.

Iran signed an agreement with Iraq in July to deliver natural gas to its western neighbor.

Based on the agreement, 25 million cubic meters of gas will be delivered to power plants in Sadr, Baghdad and al-Mansouryah through a 270-kilometer (167-mile) pipeline, which is estimated to earn Iran $3.7 billion a year in revenue.

Meanwhile, a pipeline which will carry natural Iranian gas to the Persian Gulf sultanate of Oman is expected to be complete next year.

In August, Iran and Oman signed an agreement on the export of Iranian gas to the Persian Gulf state.

Under the contract valued at over USD 60 billion, the Islamic Republic will be delivering gas to the Persian Gulf sultanate for 25 years.

Iran, which sits on the world’s second largest natural gas reserves after Russia, has been trying to enhance its gas production by increasing foreign and domestic investment, especially in its South Pars Gas Field.

The South Pars gas field, divided into 28 phases, is located in the Persian Gulf on the common border between Iran and Qatar. It is estimated that the field contains 14 trillion cubic meters of gas and 18 billion barrels of condensate.

By Press TV


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