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    Iran Could Earn $1.5-2mn a Day from Gas Exports to Iraq

Summary

Iran has said that revenues from planned gas exports to Iraq may touch $1.5-2 billion a day.

by: Shardul

Posted in:

Asia/Oceania

Iran Could Earn $1.5-2mn a Day from Gas Exports to Iraq

Iran has said that revenues from planned gas exports to Iraq may touch $1.5-2 million a day. The exports are likely to begin in three months.

“In the beginning, nearly five million cubic meters (mcm) per day of gas will be exported,” Press TV quoted Javed Owji, managing director of National Iranian Gas Company (NIGC) as saying.

The official stated that Iran will get $18 billion from natural gas exports if its planned sale of 20-30 billion cubic meters (bcm) of natural gas per year is realized. 

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

Friendship Pipeline project under construction between Iran, Iraq and Syria, is the most important project currently, officials were quoted as saying by Press TV.. 

The pipeline will be designed in such a way that it will be able to deliver gas to other countries like Jordan and Lebanon in the future, Press TV said. 

The 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.