Iran, Iraq discuss oil and gas cooperation

Business Materials 22 October 2014 16:41 (UTC +04:00)

Baku, Azerbaijan, Oct.22

By Fatih Karimov - Trend:

Iranian Oil Minister Bijan Namdar Zanganeh and Iraqi Oil Minister Adel Abdel Mehdi discussed ways to boost oil and gas cooperation.

The two ministers met in Tehran on October 22, Iran's Shana news agency reported.

Ali-Reza Kameli, managing director of the National Iranian Gas Exports Company (NIGEC) said in September that Iran will be ready to export gas to Iraq by the beginning of next [Iranian calendar] year (March 2015), but the start of gas exports to Iraq will definitely depend on the establishment of normal conditions in that country.

The Iranian official said that Baghdad is "seriously" following up on the issue of gas imports from the Islamic Republic, Press TV reported.

Based on agreements signed between Tehran and Baghdad, Iran should start delivering 7 million cubic meters (mcm) per day of natural gas to its western neighbor.

A 100-kilometer pipeline stretching from the village of Charmaleh, located in Iran's western province of Kermanshah, into the town of Naft Shahr on the border with Iraq will transmit the gas.

The pipeline, which is estimated to earn Iran USD 3.7 billion a year in revenues, will be fed by the massive offshore South Pars gas field in southern Iran.