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Iran's Oil Minister talks about energy plans with neighboring countries

Oil&Gas 15 January 2022 14:13 (UTC +04:00)
Iran's Oil Minister talks about energy plans with neighboring countries

BAKU, Azerbaijan, Jan. 15

By Elnur Baghishov – Trend:

The experts from the Turkish BOTAS Company and the National Iranian Gas Company (NIGC) will conduct discussions on the extension of the gas export contract this week, Iranian Oil Minister Javad Owji told reporters, Trend reports citing ILNA.

He made the remark on the sidelines of the signing ceremony of a contract for the construction of a pipeline on the transportation of oil products from the southeast to the northeast of Iran on Jan. 15, 2022.

According to Owji, the extension of the contract on Iran's gas exports to Turkey is on the agenda of the Iranian Oil Ministry and the NIGC, which will expire in 2026.

The minister also added that Iran has signed an agreement with Turkmenistan on technical services for crude oil, gas, and oil products. The agreement is expected to be implemented soon.

“In addition, Iranian Oil Ministry has made important decisions in connection with Iran's gas exports to Oman. Iran has already begun discussions with Oman in this regard. It is hoped that these discussions will result in the signing of a contract on Iran's gas exports to Oman,” he said.

"The price of crude oil in the world oil market is valued between $80-$90 per barrel, which is an ideal price. OPEC and OPEC + members also agree on this figure. This price is a profitable price for both exporters and consumers," he said.

On Jan. 15, 2022, the National Iranian Oil Refining and Distribution Company (NIORDC) and the Bank Mellat Iran signed a contract for the construction of a pipeline on the transportation of oil products from the southeast to the north-east of Iran.

According to the contract, the pipeline will allow transport of oil products from Rafsanjan city in the Kerman Province (south-eastern Iran) to Mashhad city in the Razavi Khorasan (northeastern Iran).

The transportation capacity of the pipeline will be 150,000 barrels per day, while the length of the pipeline will be 948 kilometers.

According to preliminary estimates, a total of 372 million euros will be spent on the construction of the pipeline and related work.

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