Iran Works on Gas Pipeline to Iraq

Iran continues its attempts to increase its regional clout, with domestic companies joining forces to finance the gas pipeline to Iraq.

The National Iranian Gas Company (NIGC) said that there are 14 consortia that voiced their interest to take the next step in the project.  

‘Hamidreza Araqi, who is … managing director of the National Iranian Gas Company (NIGC), said the groups of companies have already received the necessary documents related investment in the project, and should offer their qualifications by the set deadline’ reads a post on the company’s website on Monday. 

NIGC will be called to review the qualifications of the companies. The companies have to be ready to allocate $1.5 billion on the project. 

Araqi confirmed the company’s intention to support Iranian production, adding that capacity is expected to rise by 200 mcm per day in the Iranian year starting in March.

The additional gas would confirm Iran’s progress in the field. 

“Iran’s gas production capacity has risen by 100 million cubic meters per day this year”Araqi commented in a separate press note.  

According to local reports, Iranian authorities met with Iraq’s Prime Minister Haider al-Abadi in Baghdad on Monday. The meeting reportedly led to the signing of seven cooperation agreements. Power and energy was one of the areas covered by the cooperation deals.