Tehran: Iran, Iraq and Syria agreed on a deal to construct a pipeline to transfer natural gas from Iran to Europe, says Iranian Deputy Oil Minister Javad Oji.
“The first official agreement on the export and transit of natural gas is now ready to be inked between Iran, Iraq and Syria,” Oji was quoted by Mehr news agency as saying.
Under the contract, natural gas produced in Iran’s South Pars oil and gas field will be pumped through Iran, Iraq and Syria to Lebanon and the Mediterranean Sea before reaching Europe, he added.
The minister said oil and energy ministers of the three countries will soon sign a memorandum of understanding on the gas transit deal.
The construction of the 5,600- kilometer (3,480-mile) pipeline is projected to cost US$ 5-6 billion, he added.
The deputy minister said the pipeline will ultimately have the capacity to pump 110 million cubic meters of natural gas per day.
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