Iran plans to lay 5,000 km-long gas-pipelines over next five years

Business Materials 21 April 2016 07:47 (UTC +04:00)

Baku, Azerbaijan, April 21

By Khalid Kazimov - Trend:

Iran eyes projects to construct 5,000 km-long gas-pipelines across the country over the next five years, an Iranian gas official said.

Hassan Montazer Torbati, the planning director of the National Iranian Gas Company, has said the company for fulfilling the plans needs $15 billion, SHANA news agency reported.

Hassan Montazer Torbati added that his company on average needs to attract $3.3 billion worth of investment per year.

For materializing the projects, he further called for luring foreign and domestic investment.

According to an Iranian oil Ministry's document obtained by Trend, the ministry needs to spend $55.8 billion on gas transit projects until 2025.

The document also suggests that Iran will need to invest about $27 billion on gas distribution projects.

Earlier Iran's Oil Ministry and Saipem SpA, an Italian oil and gas industry contractor, held talks for the construction of the Islamic Republic's ninth cross-country gas pipeline.

The 1,900 km long pipeline is expected to deliver 110 million cubic meters of natural gas per day from Asalouyeh gas field to north western regions of Iran.