Iran plans to launch gas projects with a total investment worth US$3 billion as the country looks to ease a gas shortage, head of National Iranian Gas Company (NIGGC) said.
Iran plans to launch gas projects with a total investment worth US$3 billion as the country looks to ease a gas shortage, head of National Iranian Gas Company (NIGGC) said.
The projects, valued at 120 billion Iranian rials in total, will focus mainly on construction of pipelines and pressure boosting facilities and the some will be for gas delivery to subscribers across the country, Iran's Shana news agency reported.
Hamid Reza Araghi, managing direction of NIGC said Iran’s current production is 800 million cubic metres of natural gas per day, supply 92 per cent of the domestic population.
It also imports gas from Turkmenistan, since 1997, to meet demand for the Northern provinces.
“We may establish trade ties with our neighbour in the future but we no longer need to rely on their gas flow because we are not in a state of emergency,” Araghi said, according to Shana. “We may consider business deals or trade ties (with Turkmenistan) but not out of urgency.”
Iranian ministry officials in January said the country would file a case with the International Court of Arbitration (ICA) over the quality and price of gas it receives from Turkmenistan.
Turkmenistan stopped gas exports to Iran in January 2017, saying it was owed $1.5 billion to $1.8 billion for gas it had delivered to Iran – an amount that Iran says is incorrect.
Source: Pipeline ME
