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News number: 8804241129

17:32 | 2009-07-15

Economy

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Envoy: Iran, Turkmenistan to Construct New Gas Pipeline

TEHRAN (FNA)- Iran's Ambassador to Turkmenistan Mohammad Reza Forqani on Wednesday announced that the two countries plan to build a new pipeline to transfer Turkmen gas to Iran.



"Given the closeness of Turkmenistan's gas resources to Iran's border, a new gas pipeline is to be constructed in near future for transferring Turkmen gas to Iran in addition to the existing Korpeje-Kurt Kui pipeline," Forqani told FNA, pointing to a recent meeting between the director of the National Iranian Gas Export Company (NIGEC) Reza Kassaeizadeh and his counterpart at the Turkmen state-run gas company, Turkmengaz, during the weekend.

Asked about the size of Turkmen gas supplies to Iran, the diplomat noted, "The gas companies of the two countries have agreed to export gas to Iran from a Turkmen gas field, other than Korpeje."

Forqani said that in the first phase, the volume of gas supplies to Iran would reach 14 billion cubic meters (bcm) from the current 8 bcm a year and could increase to 20 billion cubic meters in future.

Earlier on Saturday, Kassaeizadeh announced that Tehran and Ashgabat agreed on a fixed pricing formula for Turkmenistan's gas deliveries to Iran

Under the agreement, 8 bcm of gas will be transferred to Iran from the Korpeje field in Western Turkmenistan and the remaining six will be sourced from the Dauletabad field in the south-east of the central Asian country.

Kassaeizadeh also announced that the new formula has been enforced as of July 1st, 2009.

The Iranian ambassador further told FNA that the two countries have agreed on a gas price for the second half of 2009 and which would rule for 3 years.

Turkmenistan has been supplying gas to Iran since 1997, but exports have never hit the Korpeje-Kurt Kui pipeline's full capacity of 8 bcm per year. Turkmenistan's gas supplies to Iran have never exceeded 6.5 bcm.