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Iran to Make $4-6B Exporting Gas to Iraq Next Year

Source: Bloomberg 2/20/2015, Location: Asia

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Managing Director of the Iranian National Gas Company Hamidreza Araqi has said that Iran is planning to export 30 -50 mcm/d of gas to neighboring Iraq in the next Iranian fiscal year starting March 21, Fars news agency reported Feb. 20.

He added that the gas export to Iraq will bring Iran $4-6 billion a year.

A pipeline from Iran's Ilam Province in western region towards Baghdad has almost been completed and initial delivery of 4 mcm/d of gas is projected by the end of February. This volume is to reach 25 mcm/d in the future. The second route to deliver 35 mcm/d of Iranian gas towards Iraq's Basrah hasn't started yet.

Currently Iran is able to deliver a restricted amount of associated gas, refined at Ilam refinery to Baghdad, but to deliver the final targeted volume, Iran needs to complete two separated routes, a 611 km sixth cross-country pipeline at a cost of $2 billion and piping a project worth $1.5 billon for delivering 35 mcm/d of gas towards Basrah.

The official said that Iran would export 10 billion cubic meters of gas during the current Iranian year (Mar. 21, 2014 to Mar. 20, 2015).

Iran increased gas output from South Pars by 100 mcm/d in 2014 and it's projected the volume be raised again as much as 2014's growth in the current year. Currently Iran produces 350 mcm/d of sour gas, of which 282 mcm/d is sweetened, but Iran is determined to complete all phases of South Pars by 2017 to increase the production level to above one billion cubic meters of enriched gas per day.

All of the Persian Gulf's Arab states, except Qatar, need gas imports.

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