Iran, Iraq, Syria to Construct Gas Pipeline to Europe
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, Iran's Energy and Oil Information Network (Shana) reported on Wednesday.
Oji said that the primary agreement on the project was reached last week in Baghdad and in the future the official agreement will be signed by the oil ministers of the three countries.
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.
The construction of the 5,600- kilometer (3,480-mile) pipeline is estimated to cost five to six billion U.S. dollars, he said.
Oji said the pipeline would ultimately have the capacity to pump 110 million cubic meters of natural gas per day.
Iran has the world's second largest gas reserves after Russia but has struggled for years to develop its oil and gas resources.