Iran ready to presale gas to European financers

Oil&Gas Materials 25 July 2011 17:52 (UTC +04:00)

Azerbaijan, Baku, July 25 /Trend/

Iran is negotiating a presale of natural gas to a few European financers and has no worries about selling gas, Mehr News Agency reported quoting Iran's Oil Ministry caretaker Mohammad Aliabadi as saying.

"There is a possibility of presale of natural gas if European financers submit good offer," he said.

Iran is currently negotiating with a few European and international financers to provide financing for a 5,000 kilometer long 'Islamic pipeline'.

European countries' daily gas consumption is 500 million cubic meters and Iran is ready to transit gas from Iraq and Syria to Mediterranean Sea and other European countries, he said.

Iran signed one of the biggest gas deals in Middle East Monday with Iraq and Syria in Pars Special Economic Energy Zone (PSEEZ)

Foreign companies and a consortium formed by Iran, Syria and Iraq are expected to provide part of financing for the gas pipeline project and international consultant - to implement the pipeline construction.

The project requires $6 billion investment and will take three years to complete.

So far, 661 kilometers of the 1,500 km-long pipeline lying from Assaloyeh to Damascus has been constructed. Its transfer capacity is 110 million cubic meters of natural gas per day.