Iran to gain $1.5-$2m/day from Gas to Iraq

By John Lee.

Iranian deputy oil minister Javad Owji [Ouji, Oji] (pictured) says the country’s revenues from the planned export of natural gas to Iraq will reach $1.5-$2 million a day.

According to a report from PressTV, he went on to say that Iran will start delivering gas to its western neighbour within three months.

Owji, who is also managing director of National Iranian Gas Company (NIGC), said:

In the beginning, nearly five million cubic meters (mcm) per day of gas will be exported to this country [Iran] … If we sell gas throughout a full year, all investments made in the gas sector will return.

Iran has agreed to pump 25 mcm per day of natural gas to Iraq.

The official stated that Iran will get USD18 billion from natural gas exports if its planned sale of 20-30 billion cubic meters (bcm) of natural gas per year is realized.

On January 30, Iranian Oil Ministry spokesman Alireza Nikzad-Rahbar said the country would start exporting natural gas to Iraq by next summer.

Nikzad-Rahbar added that the Friendship Pipeline project under construction between Iran, Iraq and Syria, is designed to be able to deliver gas to Jordan and Lebanon in the future.

The 56-inch pipeline will start from Assaluyeh, near the massive offshore South Pars Gas Field in southern Iran, and will continue into Iraq to feed three Iraqi power plants running on gas.

(Source: PressTV)

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