Iraq, Iran & Syria sign $10 Billion
Gas Pipeline Deal
(EDITOR - Follow the money trail for the answer to 90% of news stories. Crazy ass Islamists are an issue in the Middle East, but money and oil trumps all. Could the war boil down to natural gas? You decide.)
Wall Street Journal - The oil ministers of Iraq, Iran and Syria in July signed a preliminary agreement for a $10 billion natural-gas-pipeline deal, the official Iranian News Agency IRNA and other Iranian media reported.
The document was inked in the Assalouyeh industrial region located in the southern province of Bushehr by Iranian oil minister Mohammad Aliabadi, Iraq's oil minister Abdul Kareem Luaiby, and Syrian counterpart Sufian Alow, the agency said.
Iraqi oil officials confirmed that Mr. Luaiby was in Iran to sign the agreement. They gave no further details.
|Iranian oil & gas competes with |
Saudi Arabia and Qatar.
Iranian oil officials said Syria would purchase between 20 million to 25 million cubic meters a day of Iranian gas. Iraq has already signed a deal with Tehran to purchase up to 25 million cubic meters a day to feed its power stations.
The project requires some $10 billion investment and will be constructed within three years, the semi-official Iranian news agency Mehr reported.
The pipeline length is more than 1,500 kilometers and will run from Assalouyeh to Damascus while passing through Iraq, with a transfer capacity of 110 million cubic meters of natural gas a day, it said.
The gas will be produced from the Iranian South Pars gas field in the Gulf, which Iran shares with Qatar, and holds estimated reserves of 16 trillion cubic meters of recoverable gas.
Iranian officials have said Iran is producing some 600 million cubic meters of gas a day, of which only 37 million cubic meters are exported. Tehran also aims to extend the pipeline to Lebanon and the Mediterranean to supply gas to Europe, they said.
Iran has been approaching its allies in the region such as Iraq and Syria to export its gas after western firms have pulled out of Iran's lucrative energy sector because of international dispute over Tehran's nuclear program, which the West and the U.S. suspect is aimed at producing nuclear bombs.
|A gas pipeline linking Iran, Iraq and Syria.|
|Is "war" in Syria really about Iran & oil?|
The agreement is between the Iraqi Oil Ministry, the Iranian Oil Ministry, and the Syrian Oil and Mineral Resources Ministry, and it relates to the construction of a gas pipeline from Iran through Iraq and Syria and onwards to Europe. The line could also be used to export Iraqi gas.
See more at Iraq-Business News.com
|Tens of thousands of people have been killed in places like the Congo. |
But no one cares about them because there is little oil or gas.