Iran Able to Meet 20 Percent of Europe’s Gas Needs, NIGEC Says

Iran’s gas export pipeline will be able to provide at least 15 to 20 percent of Europe’s gas needs in the long term, caretaker of the National Iranian Gas Export Company (NIGEC), Hossein Bidarmaghz announced.

He said that pipeline, which its construction is under study, has the potential to carry 110 million cubic meters of gas per day and would be able to transfer Iran’s natural gas to Europe by passing from Iraq, Syria, Lebanon and Mediterranean, Iran’s SHANA news agency reported.

He went on to say that, under our agreements with Iraqi side the country is permitted to take gas from the pipeline until development of its gas fields in next five years.

“After rising gas production by Iraq and existence a surplus for export, the country will be authorized to inject 20 to 25 million cubic meters of gas a day to the Iran’s gas export“, he said.

Joining Iraq to the gas export pipeline in long term and having a reliable source of gas supply like South Pars giant gas field are considerable advantages of Iran’s gas export pipeline in comparison to Nabucco.

Last June, Iran, Iraq and Syrian top oil officials signed a 10 billion dollars MoU on construction of a five thousand kilometers pipeline to transfer Iran’s gas to Europe by crossing Iraq, Syria, Lebanon and Mediterranean.

[mappress]

Source: NIGC, September 21, 2011;