17:39 GMT +316 July 2019
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    This picture taken on Wednesday, Jan. 22, 2014, shows a partially constructed gas refinery at the South Pars gas field on the northern coast of Persian Gulf in Asalouyeh, Iran

    Iran Wants Russia to Invest in Construction of Country's Gas Pipeline

    © AP Photo / Vahid Salemi
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    Iran wants Russia to take part in the construction of the country's ninth gas pipeline, National Iranian Gas Company (NIGC) Managing Director Hamid Reza Araghi said Monday.

    MOSCOW (Sputnik) — Iran started building its ninth cross-country pipeline in early 2016. The NIGC aims to use the pipeline to boost its exports to Turkey and Europe. In May, the company said it expected $5 billion from private investors for the 11,000-mile pipeline with 17 pressure stations along its length. The pumping volume is expected to be 100 million cubic meters of gas per day.

    "One ongoing plan pertains to construction of the ninth nationwide gas pipeline to transport natural gas from south to north of the country… The project can be also carried out through an EPCF [engineering, procurement, construction and finance] contract in case necessary permits are issued by the government," Araghi, who also serves as Iran's deputy oil minister, was quoted as saying by the Mehr news agency.

    The remaining required investment stands at $2.5 billion, he added, noting an international tender will be placed.

    In late 2016, the NIGC signed a memorandum of understanding with Russia's energy giant Gazprom. While no details of the agreement were provided, Russia's Gazprom Deputy CEO Alexander Medvedev said that the company was interested in a number of projects in Iran, including production of liquefied natural gas (LNG) and deliveries of pipeline gas, including deliveries to India.

    Iran has been seeking to boost its foreign investments since the lifting of international sanctions in early 2016. The country's aged energy infrastructure has been in focus in particular.


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    investment, gas pipeline, Russia, Iran
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