Sources in Iran recently revealed that it would soon supply Turkey with natural gas, based on a prior agreement between the two countries, according to Al-Bayan daily.
The CEO of Iran’s National Gas Company, Hamd Allah Muhammad Najad, stated that Iran would begin gas exports by the end of the current month, upon the completion of a 225-kilometer, 40-inch wide pipeline to transfer the gas. The new pipeline will run from Tabriz to the Bazergan border crossing with Turkey.
The two nations reached a bilateral agreement in 1996 under which Iran would begin exporting gas to Turkey on July 30, 2001. Under the agreement, three billion cubic meters of Iranian gas would be exported during the first year of operation. By 2007, this amount is expected to reach approximately ten billion cubic meters annually.
The estimated value of the gas to be exported, according to the agreement, stands at approximately $20 billion. –(MENA Report)
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