Terrorist attacks on gas pipeline halted Iran's gas exports to Turkey for 42 days in past 3 years

Business Materials 9 October 2012 11:41 (UTC +04:00)

Azerbaijan, Baku, Oct. 9/ Trend F.Milad/

During the past 3 years seven terrorist attacks were committed on Iran-Turkey gas pipeline, halting the flow of Iranian gas into Turkey for 42 days, Mehr reported.

The 42-days halt reduced one billion cubic meters from Iran's total gas exports to Turkey. Iran exports some 25 million cubic meters of gas to Turkey per day.

According the 25-year agreement between the two countries, Iran is obliged to supply Turkey with annually 10 billion cubic meters of natural gas and if either side fails to fulfill its commitment, it is liable for compensation.

Turkey was also buying additional gas from Azerbaijan and Russia.

On Oct.6 Iran announced that the country has increased the volume of gas exports to Turkey to 30 million cubic meters (mcm) per day as a blast halted gas exports from Azerbaijan to Turkey.

On September 4, Iranian Oil Minister Rostam Qasemi held talks with Turkish Development Minister Cevdet Yilmaz in Tehran with the main topic of increasing exports of Iranian gas to its neighboring country.

Iran will have the capacity to boost gas exports to Turkey and other European countries once the 6th cross country gas pipeline come on stream, the National Iranian Gas Company's managing director said in September.

The pipeline, which is projected to extend 1,300 kilometers, will increase the capacity to transfer natural gas to Turkey to 80 million cubic meters (bcm) per day from around 30 bcm.

Daily gas production in Iran is about 600 million cubic meters, and this is projected to increase to 1.2 billion cubic meters in the future. According to the National Iranian Gas Company, the country's oil and natural gas reserves account for 10 percent and 16 percent of total world reserves, respectively.

Iran, with 155 billion barrels of recoverable oil reserves, ranks fourth worldwide, after Venezuela, Saudi Arabia, and Canada.

With 34 trillion cubic meters of natural gas reserves, Iran has the world's second-largest natural gas reserves after Russia.