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Iran seeks to export gas to Europe through Iraq

Business Materials 16 May 2016 12:28 (UTC +04:00)

Baku, Azerbaijan, May 16

By Khalid Kazimov - Trend:

Iran seeks to export its gas to the Europe through Iraq and Syria, an Iranian gas official said.

Hamid-Reza Araghi, the managing director of the National Iranian Gas Company (NIGC) has said that talks are underway to discuss exporting Iran's gas to Europe through Iraq and Syria, Fars news agency reported.

He said that the talks are pursuing long-term goals and the negotiations are unlikely to reach results short term.

He further added that currently Iran is only looking to deliver its gas to power plants in Iraqi cities of Baghdad and Basra.

He also said that Iran prefers to export liquefied natural gas (LNG) to Europe, and supplying gas there through a pipeline is also possible.

Iran and Iraq have a deal over the exports of natural gas from South Pars energy hub to Baghdad.

According to the agreement, 25 cubic meters of gas per day will be delivered to Baghdad power plants through a 270-kilometer pipeline. The volume of gas supplied to Iraq can reach 35 cubic meters in the hot days.

The project is estimated to earn Iran $3.7 billion a year in revenues.

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