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NIGC Marks Revolution Anniversary with $3b Gas Projects

Source: Shana 2/5/2018, Location: Asia

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Managing director of National Iranian Gas Company (NIGC) Hamid-Reza Araghi said his company has planned to break grounds or launch gas projects with a total investment of IRR 120 billion (roughly $3b) to mark anniversary of the victory of the 1979 Islamic Revolution in Iran.

Addressing a press conference here in Tehran on Monday, the official IRR 90 billion of the projects concern construction of pipelines and pressure boosting facilities and the rest involve gas delivery to subscribers across the country.

He said Iran produces 800 million cubic meters of natural gas per day and supplies it to 92% of the Iranian population.

Touching on Iran's gas imports from Turkmenistan for northern Iranian provinces, Araghi said, "We may establish trade ties with our northern neighbor in the future but [for the time being] we no longer need to rely on their gas flow because we are not in a state of emergency."

"We may consider business deals or trade ties with it [Turkmenistan] but not out of urgency," Araghi said.

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Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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