Iran Will Soon Sign Gas Deal with Syria and Iraq

Iran will soon sign a contract with Syria and Iraq to export its natural gas, managing director of the National Iranian Gas Company (NIGC), Mr. Owji (image) announced on Wednesday.

According to the report of the public relations of the NIGC, he said that the first official contract on the export and transit of natural gas is now ready to be signed soon between Iran, Iraq and Syria.

He went on to say that, Iran plans to transit gas from the South Pars gas field through Iraq, Syrian and then Lebanon to the Mediterranean area and Europe.

The construction of the 5600-kilometer pipeline is projected to cost 5-6 billion dollar.

By construction of this pipeline, it is estimated Iraqi gas needs will be procured by 10 to 15 million cubic meters per day, Syria’s gas need by 15 to 20 million cubic meters and Lebanon’s gas need by 5 to 7 million cubic meters.

It’s worth mentioning that, this pipeline with more than 1500-kilometer length and 56-inch in diameter will ultimately have the capacity to transfer 110 million cubic meters of gas per day.

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Source: NIGC, May 11, 2011;