Iran Plans For Europe's Gas Needs

Iran is planning the movement of its natural gas to Europe through Iraq and Syria.

Iranian Deputy Oil Minister Javad Oji said Iran, Iraq and Syria will sign an agreement on the construction of a pipeline to transfer Iran's natural gas to Europe.

Under the deal, natural gas produced in Iran's South Pars oil and gas field will be pumped through Iran, Iraq and Syria to Lebanon and the Mediterranean Sea before reaching Europe, he said.

Costs for the 5,600 km pipeline that will ultimately have the capacity to pump 110 million cubic meters of natural gas per day, are estimated at $5-6 billion.

Oji said the pipeline would ultimately have the capacity to pump 110 million cubic meters of natural gas per day.

Iran is estimated to have the world's second largest natural gas reserves after Russia.

Source: Moj News