European company signs $100M gas deal with Iran

Business Materials 19 September 2014 14:17 (UTC +04:00)

Baku, Azerbaijan, Sept.19

By Fatih Karimov - Trend: A company from one of the member states of the EU has signed a deal, worth $100 million, to establish gas pressure boost stations and build pipelines in Iran.

National Iranian Gas Company Managing Director Hamid Reza Araqi said 10 gas pressure boost stations will be established and the sixth, seventh, and eighth cross-country gas pipelines will be extended in the current year, Iran's Mehr news agency reported on Sept. 19.

However, Mehr has revealed no more details about the European company.

Iran's Gas Engineering and Development Company's managing director Alireza Gharibi said on Sept. 12 that a European company is in talks with Iran to invest in creating Iran's 9th cross-country gas pipeline intended to export natural gas to Turkey.

Gharibi added that negotiations with that company will start on Sept. 22, Iran's Mehr news agency reported.

The company's name was not disclosed.

Iran's ninth cross-country gas pipeline is projected to stretch 1,800 kilometers from southern Assalouyeh region to northwestern Bazargan border.