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News number: 8901181055

14:07 | 2010-04-07

Economy

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Iran to Export Gas to Kuwait

TEHRAN (FNA)- Iran plans to export 8.5mln c/m of gas from its giant South Pars gas fields to Kuwait, Head of the National Iranian Gas Export Company (NIGEC) Seyed Reza Kassayeezadeh said on Wednesday.



"Kuwaiti officials during the meetings and negotiations have announced their willingness to use Iran's natural gas," Kassayeezadeh reiterated.

Referring to the price of gas supplies to Kuwait, he said that the two sides have presented their proposals but the final price has not yet been decided.

Kassayeezadeh also announced an agreement between Iran and Kuwait to establish a governmental and a private company to construct a 577 km pipeline to transfer Iran's gas to Kuwait.

He said that the issue has already gone under negotiation in several meetings between the two sides and that some good achievements have been made.

The official also pointed out that talks will continue on the issue.

He further mentioned that 330 km of the pipeline will be constructed on the ground while 240 km more will be built under water in the Persian Gulf.

Iran exported 6.8 billion cubic meters (bcm) of natural gas during the last Iranian year (ended on March 20), Deputy Oil Minister Javad Oji announced earlier this week.

Reminding that the country's gas reserves stand at 30,000 bcm, Oji stated that half of Iran's gas reserves is located in the South Pars fields.

Oji, who is also Managing Director of Iran's National Gas Company, announced that Iran produces 630 million cubic meters of sour and sweet gas per day.

Some 540 million cubic meters of gas is also processed on a daily basis in 13 refineries throughout the country, he added.