Iran has signed an agreement to deliver natural gas to Iraq, according to the Iranian Oil Ministry
Mohammad Javad Owji, Iran’s oil minister, said, “Based on this agreement, 25mn cubic metres of gas will be delivered to Sadr, Baghdad and al-Mansouryah power plants through a pipeline.”
By signing this gas deal, Iran is likely to earn US$3.7bn a year in revenues, Owji added.
According to reports, Iran would complete the construction of the 270km pipeline within the next two months.
The pipeline will begin from Assaluyeh, near the offshore South Pars gas field in southern Iran, and will continue to the designated power plants in Iraq.
The South Pars field is located in the Gulf between Iran and Qatar. It is estimated that the field contains 14 trillion cubic meters of gas and 18bn barrels of condensate.
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