Turkey to invest up to $4bn in Iran Pars gas field
October 27, 2009
Agencies/London/Tehran
Turkey is to invest $3.5bn to $4bn in Iran’s South Pars gas field, Iran’s government-controlled news network Press TV reports on its website yesterday, citing an Iranian Oil Ministry official.
“The investment [by Turkey] will be made in phases 6 and 7 of South Pars gas field,” Ibrahim Radafzoun, deputy oil minister for planning, is quoted as saying.
Turkey will start exploration work on South Pars in November in a project to export gas to Europe, state-run news agency Anatolian reported Turkey’s Energy Minister Taner Yildiz as saying on Tuesday.
Yildiz, who is in Iran with Prime Minister Tayyip Erdogan and other Turkish officials, was also reported as saying Turkey was willing to make additional payments to Azerbaijan for gas bought since April 2008 after Baku said Turkey’s terms for transit were unacceptable.
Yesterday Yildiz said Turkish state-owned exploration and production company Turkish Petroleum would produce an annual 35bn cu m of gas and that at least half would be made available to Turkey to re-export to Europe.
It was not immediately clear whether the gas would go through the planned €7.9bn ($11.76bn) European Union-backed Nabucco pipeline. Backers of the pipeline have not all supported the use of gas from the Islamic Republic.
The US, a Turkey ally, has expressed displeasure over Ankara’s gas deals with Iran, which is engaged in a standoff with the West over its nuclear programme.
“Turkish Petroleum will be exploring in the South Pars Field ... The work will have started by the first or second week of November,” Yildiz told reporters.
The Turkish and Iranian governments agreed in July 2007 that Turkish Petroleum would produce gas from the field in a project worth billions of dollars.
Agencies/London/Tehran
Turkey is to invest $3.5bn to $4bn in Iran’s South Pars gas field, Iran’s government-controlled news network Press TV reports on its website yesterday, citing an Iranian Oil Ministry official.
“The investment [by Turkey] will be made in phases 6 and 7 of South Pars gas field,” Ibrahim Radafzoun, deputy oil minister for planning, is quoted as saying.
Turkey will start exploration work on South Pars in November in a project to export gas to Europe, state-run news agency Anatolian reported Turkey’s Energy Minister Taner Yildiz as saying on Tuesday.
Yildiz, who is in Iran with Prime Minister Tayyip Erdogan and other Turkish officials, was also reported as saying Turkey was willing to make additional payments to Azerbaijan for gas bought since April 2008 after Baku said Turkey’s terms for transit were unacceptable.
Yesterday Yildiz said Turkish state-owned exploration and production company Turkish Petroleum would produce an annual 35bn cu m of gas and that at least half would be made available to Turkey to re-export to Europe.
It was not immediately clear whether the gas would go through the planned €7.9bn ($11.76bn) European Union-backed Nabucco pipeline. Backers of the pipeline have not all supported the use of gas from the Islamic Republic.
The US, a Turkey ally, has expressed displeasure over Ankara’s gas deals with Iran, which is engaged in a standoff with the West over its nuclear programme.
“Turkish Petroleum will be exploring in the South Pars Field ... The work will have started by the first or second week of November,” Yildiz told reporters.
The Turkish and Iranian governments agreed in July 2007 that Turkish Petroleum would produce gas from the field in a project worth billions of dollars.
