Iranian Gas to Reach Iraq by Summer

Iran will begin pumping gas to Iraq by summer of 2014, Hamid Reza Araqi, an Iranian deputy oil minister who is also the managing director of the National Iranian Gas Company (NIGC), said Monday.

According to Press TV, Iran will export 3-4 million cubic meters (mcm) of natural gas per day to its western neighbor in few months.

As per the agreement Iranian natural gas will be exported to Iraq in three stages, Press TV quotes Araqi as saying.

Iran signed an agreement with Iraq in July last year.

Based on the agreement, 25 million cubic meters (mcm) of gas will be delivered to Sadr, Baghdad and al-Mansouryah power plants through a pipeline.

The 270-kilometer pipeline is estimated to earn Iran $3.7 billion a year in revenues, Press TV adds.

The pipeline will stretch from Assaluyeh, near the massive offshore South Pars oil and gas field in southern Iran, and will continue into neighboring Iraq to feed Iraqi power plants running on gas.

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