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Gas pipeline Photo: AFP
Gas pipeline Photo: AFP
 
 

Turkey to help with Iranian gas exports

Two states sign deal for new pipeline to transfer natural gas from Iran to Turkey, and on to Europe

Doron Peskin
Published: 07.29.10, 17:05 / Israel Business

Turkey's relations with Iran were bolstered over the weekend by a billion-dollar deal for the establishment of a new gas pipeline between the two countries.

 

The new pipeline will transfer natural gas from Iran to Turkey, and from there to European markets.

 

Up to 60 million cubic meters of natural gas will be able to pass through the 660-km pipeline each day, sources say.

 

The pipeline is set to be established within three years, with the cooperation of the Turkish Som Petrol.

 

In addition, Iran is scheduled to resume natural gas exports to Turkey Tuesday if there are no further problems, according to the Iranian Oil Ministry's official website.

 

Iran temporarily stopped its gas export after an explosion in eastern Turkey on July 21 damaged the pipeline. Iran had said exports would resume as soon as the pipeline was fixed.

 

The Islamic state is Turkey's second biggest gas supplier after Russia, and sells nearly 10 billion cubic meters of gas to Turkey per year.

 

Doron Peskin is head of research at Info-Prod Research (Middle East) Ltd.

 

Reuters contributed to this report

 

 

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