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Iran to ink 3 gas deals with Asian, European countries

Business Materials 14 July 2012 13:07 (UTC +04:00)

Azerbaijan, Baku, Jul.14/ Trend F.Milad/

Iran is finalizing the deals to export natural gas to two Persian Gulf states and a European country, the Fars News Agency reported on Saturday.

The European gas deal aims to export 20-25 million cubic meters of gas.

Iran is just currently exporting gas to Turkey. The country has signed a gas swap deals with Armenia and Azerbaijan. The negotiations are underway to ink the gas export deals with Switzerland, Iraq, Pakistan and Syria.

Iran, which sits on the world's second largest natural gas reserves, is making efforts to boost its gas production by increasing foreign and domestic investments, especially in its South Pars gas field.

The South Pars gas field is shared by Iran and Qatar. The Iranian share, which is divided into 29 phases, has about 14 trillion cubic meters of gas, or about eight percent of the total world reserves, and more than 18 billion barrels of liquefied natural gas resources.

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