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News number: 8808191697

18:22 | 2009-11-10

Economy

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Turkish Delegation Due in Iran to Resume Gas Talks

TEHRAN (FNA)- A high-ranking Turkish delegation is scheduled to visit Tehran early December to resume talks on the development of the South Pars gas field.



The delegation is slated to continue talks on the development of Iran's South Pars phases 22, 23 and 24.

The delegation will include representatives from Turkish petroleum international company (TPAO), state-owned petroleum pipeline corporation (BOTAS), and ministries of energy and foreign affairs.

Iran and TPAO signed an agreement in 2008 based on which the Turkish side undertook to produce 20.4 billion cubic meters (bcm) of natural gas annually from three development phases of Iran's South Pars gas field, but the deal has been delayed.

In October Iran gave TPAO a one-month deadline to finalize the deal to develop phases 22, 23 and 24 of South Pars but extended the deadline by three months during the Turkish high-ranking delegation's visit to Tehran.

During the visit Iran and Turkey signed a memorandum of understanding to broaden ties in the field of gas industry.

Iranian Oil Minister Masoud Mirkazemi and Turkish Energy and Natural Resources Minister Taner Yildiz signed the MOU.

Transferring Iranian gas to Europe via Turkey, boosting the presence of Turkish firms in Iran's petrochemical sector, and developing Iran''s gas fields were among the MOU items.