Iran-Iraq gas pipeline could be financed by domestic companies

Iran-Iraq gas pipeline could be financed by domestic companies

Iranian deputy petroleum minister has said that 14 domestic consortia have voiced readiness to finance the construction of a pipeline that will transport natural gas from Iran to its western neighboring Iraq.

Hamidreza Araqi, who is also managing director of the National Iranian Gas Company, said the groups of companies have already received the necessary documents related to the investment in the project, and should offer their qualifications by the set deadline, according to NIGC.

He added that the company qualifications will be later reviewed by NIGC, and companies capable of financing up to $1.5 billion will be declared eligible.

Araqi further noted that a total of $500 million is needed in order to start the project, adding that any interested party holding such a capital will be able to initiate the work and fulfill their obligations within the next two years.

He pointed out that the investment will be gradually recouped once Iran starts pumping natural gas to Iraq, and upgrades the delivery.

Image: NIGC

Share this article

Follow LNG World News

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

The 6th CWC China LNG & Gas International Exhibition & Summit

Following on from LNG 2019 and five successful editions in Beijing, the established China LNG & Gas International Exhibition & Summit…

read more >

LNG Pricing, Trading & Hedging: 3-Day Training Course – Singapore / Jan 2019

This three-day training program provides a unique opportunity to learn and apply the practical skills, knowledge and tools needed to:…

read more >

American LNG Forum 2020

The American LNG Forum is your gateway to learning about the US LNG export industry,

read more >

2nd Global LNG Forum

Global LNG Forum is an exclusive networking and knowledge-sharing platform for top experts and business leaders in the industry.

read more >