Iran, Iraq to sign gas contract

Iran will sign a gas contract with neighbouring Iraq in near future, deputy oil minister said on Wednesday

Based on the contract, Iran will export 25 million cubic meters of gas on a daily basis to Iraq in 2013, SHANA News Agency quoted Javad Owji as saying.

Iran will transfer the gas to the border via the sixth nationwide gas pipeline, he said.

Owji, who is also the managing director of the National Iranian Gas Company (NIGC), went on to note that Iraq will use the gas to produce electricity at two power plants.

Oil ministry spokesman, Ali Nikzad Rahbar, also said on Wednesday that Iran will start exporting gas to Iraq in summer.

Iran currently produces 550-600 million cubic meters of gas per day.

The Iranian oil minister announced last month that Iran plans to sign some new gas export contracts in near future.

By the end of the Fifth Five-Year Economic Development Plan (March 2016), Iran's gas production capacity would reach one billion cubic meters per day, Rostam Qasemi said.

"By the end of the plan, the country will also produce 5.6 million barrels of oil daily," he added.





/Trend/