Reuters: Iran gas exports to Europe would take at least 5 years - experts

Iran would take at least five years to start exporting natural gas to the European Union if sanctions were removed, industry experts said on Wednesday.

Last month, Reuters reported that the EU was increasing the urgency of a plan to import natural gas from Iran, as relations with Tehran thaw while those with top gas supplier Russia grow chillier due to the Ukraine crisis.

Russia meets a third of Europe's gas demand worth $80 billion a year. The EU has imposed sanctions on Moscow over the conflict in Ukraine, increasing the need for gas from elsewhere.

Iran boasts the world's second-largest gas reserves after Russia but has also been hit with sanctions, in this case over its nuclear programme. Diplomats are pessimistic on whether Iran and world powers will conclude a final agreement on those sanctions by a Nov. 24 deadline.
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