Iran, Iraq Sign Gas Export Agreement

Iran has signed an agreement with Iraq to deliver natural gas to its western neighbor, managing director of the National Iranian Gas Company (NIGC), Javad Owji said.

According to the report of the public relations of the NIGC, the agreement was signed in the Iraqi capital by Iran’s Oil Minister Rostam Qasemi and his Iraqi counterpart, Abdul Kareem Luaibi.

“Based on this agreement, 25 million cubic meters of gas will be delivered to the Iraqi power plants through pipeline,” he said.

Owji went on to say that a construction of the 227 km 48 inch gas pipeline is nearing completion and its extension in Iraq territory will be completed in next two months.

“By signing this deal, the country would earn $10 million a day and $3.7 billion a year in revenues,” Owji stressed.

In connection to the second Iran-Iraq gas pipeline which is slated to cross Khoramshahr-Basra border, he stated: “After concluding a second gas pipeline contract, which is expected to be signed in the next two months, gas export to Iraq will soar by 20 million cubic meters per day hitting 45 mcm/d in total.”