Exports of Iranian gas to Iraq may start next summer

TEHRAN,Sept.30(MNA) - Construction of the pipeline, which aims to transfer Iranian natural gas to Iraq, is well underway, and the exports will probably start next summer, National Iranian Gas Company’s Managing Director Javad Oji said. The Iranian section of the pipeline is complete by 25 percent, he said, adding that construction operations are also underway in Iraq. Some $450 million is needed to build the pipeline, through which around 25 million cubic meters of gas will be transferred to Iraq per day. In June, Oji said talks with Iraqi officials in Baghdad resulted in agreements between the countries to move ahead with a natural gas pipeline. Oji said Iraqi officials had expressed interest in using Iranian contractors to build the 167-mile section of pipeline planned for the Iraqi side of the project. Oil Minister Rostam Qasemi has said Iran could supply as much as 880 million cubic meters of natural gas to Iraq to help fuel two power plants. Iran, with 155 billion barrels of recoverable oil reserves, ranks fourth worldwide, after Venezuela, Saudi Arabia, and Canada. With 34 trillion cubic meters of natural gas reserves, Iran has the world's second-largest natural gas reserves after Russia.