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FINANCIAL NEWS
Iran, Iraq to ink gas deal
14 Sep 2011
(MENAFN) The National Iranian Gas Exporting Company’s director, Hossein Bidarmaghz, said that by the next two months, Iran and Iraq would sign a natural gad deal, reported Tehran Times.
Bidarmaghz added that the capacity of exported natural gas to Iraq would reach 25 million cubic meters a day once the project would be finished in the next 1.5 years; moreover, Iraq’s needs of Iranian gas were 10 to 15 million cubic meters per day.
He also said that the country planned to construct three pipelines, the first to export gas to Iraq, and the other two would be used to export Iranian gas to Kurdistan in Iraq, and to Syria via Iraq.
It is worth noting that Iran holds the second largest proven gas reserves in the world after Russia.
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