Oil and Gas News - Iran’s aggressive natural gas expansion plans

Oman and Iran have signed an agreement to develop offshore gas fields in Iran and take the gas to Oman. Since the discovery of natural gas reserves in Iranâs South Pars fields, the Iranian government has increased efforts to promote higher gas exports abroad. Pakistan and Iran signed a preliminary agreement for the construction of a natural gas pipeline linking the Iranian South Pars natural gas field in the Persian Gulf with Karachi, Pakistanâs main industrial port. Apart from natural gas exports, Iran has also discussed importing natural gas from Azerbaijan and already imports it from Turkmenistan. In December 1997, Turkmenistan launched the $190 million Korpedze-Kordkoy pipeline to Iran, the first natural gas export pipeline in Central Asia to bypass Russia. According to the 25-year contractâs terms, Iran will take between five and six bcm of natural gas from Turkmenistan annually, with 35 percent of Turkmen supplies allocated as payment for Iranâs contribution to building the pipeline. read more

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