Gas pipeline contract to transport Iran’s gas to Europe to be signed

Azerbaijan , Baku, Feb. 23 / Trend, A.Yusifzade /

The National Iranian Gas Company (NIGEC), Construction Base seal Alanbya and Parsian Bank will sign a $1.3 billion agreement next week to finance the construction of a gas pipeline to transport Iran's gas to Europe, Mehr News Agency reported.

Earlier the managing director of the Iranian Gas Engineering and Development Company (IGEDC), Alireza Gharibi, said roughly $6 billion will be invested in construction of new gas pipelines and gas compressors over the next two years.

Gharibi said that 2,700 kilometers of high pressure gas pipeline and nineteen new gas compressors would be constructed over the period.

"The projects that the company plan to implement in next two years include the construction of seventh gas trunk line with a length of 540 kilometers from Iranshahr city towards Zahedan city and another pipeline towards Pakistan border, new phase of sixth gas trunk line with a length of 600 kilometers from Dehgolan region towards Ahvaz city in southwestern part of the county and construction of a 30-inch 90 kilometers gas pipeline in the southeastern city of Chabahar," Gharibi added.

According to Gharibi, this year (started March 21,2010 ) different projects came online including seventh gas trunk line with $1.7 billion investment, the second north - northeast country's gas pipeline with $500 million investment, the second gas pipeline of Khorramabad city with $130 million and some other smaller projects.

Last December, Iranian Deputy Oil Minister Javad Oji said that his country is exporting a daily average of more than 30 million cubic meters of natural gas to Turkey, which indicates a daily growth of 11 million cubic meters in 2010.

In 2009, Iran exported an average of 21 million cubic meters of natural gas to Turkey per day.

Iran has the world's second-largest natural gas reserves after Russia and is Turkey's second-biggest supplier after Moscow.

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