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$10b Needed for Iran Gas Export to Europe

Source: Shana 8/1/2015, Location: Asia

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A senior Iranian gas official says at least 10 billion dollars in investments is needed for Iran to export its gas to European customers.

Director for international affairs of National Iranian Gas Company Azizollah Ramezani said given the positive circumstances arising from the nuclear deal Iran clinched with world powers, Iran can export 25 to 30 bcm of natural gas to Europe annually.

He said so far nothing special with regards to construction of gas pipelines to Europe from Iran has happened, underlining that the two sides must reach understandings for developing new gas projects.

He underlined a research carried out by the European Parliament on the potential gas exporters to Europe, and said Iran is the best choice for the green continent among other 12 candidates for gas exports.

The EU supplies 22 to 23% of its energy needs by natural gas.

Ramezani further said an Iraqi delegation is heading to Iran to seal a new deal on buying gas from Iran.

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