Seven Investors Ready to Fund Islamic Gas Pipeline

Seven international investors are ready to finance a planned pipeline transiting Iranian natural gas to Iraq, Syria and Europe, managing director of the National Iranian Gas Company (NIGC), Javad Owji announced.

"Six to seven international investors have announced their readiness to finance, design, and construct the pipeline, which would transport 110 million cubic meters of Iranian natural gas to Iraq, Syria, and European countries per day", IRNA quoted Owji as saying.

He went on to say that, financing of the project which exports gas from Iran to Europe via Syria and Iraq would be held in the form of build-own-operate (BOO) and build-operate-transfer (BOT) basis.

Iran, Iraq and Syria signed a 10-billion-dollar deal for the transit of Iranian gas from the country's South Pars gas field to Europe.

According to the deal, Iranian gas will be pumped to European countries via a 5,000-kilometer pipeline from Iraq, Syria, Lebanon and the Mediterranean Sea.