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Iran to hold talks on gas pipeline deal with Iraq

18 February 2016 18:47



Ali Akbar Velayati said  Economic Research Department of Iran’s Center for Strategic Research plans to sit for talks with Iraq on the project of gas transfer to the Arab country.

The announcement was made by Ali Akbar Velayati, Head of Strategic Research Center of the Expediency Council, following his meeting with Iraqi Oil Minister Adil Abdul-Mahdi in Tehran on Thursday.

Velayati told reporters Abdul-Mahdi has visited Iran with an aim to hold talks with OPEC ministers and discuss matters of cooperation with the organization on oil prices and the country’s shares of the oil market.

Velayati said the Iraqi oil minister has been satisfied with the results of his talks with Iranian senior officials, adding “it has been decided that Mr. Ghasemi, Deputy Head of Economic Research Department, hold consultations about the gas pipeline deal with Iraq.”

“Under the deal, the executive phase of the contract is to export 25 mcm of gas to Iraq, and the project has the capacity to increase the amount up to 40 mcm,” he added.

Velayati further added that the project will be completed within 1.5 to 2 years, saying “in order to meet the needs of the people and government of Iraq, a branch of the pipeline will reach Basra and another will deliver gas to Baghdad.”

Iran and Iraq  finalized a plan for developing a pipeline to carry 40 mcm of gas to Iraq in Sep. 2015. The project has been long in the offing but had been delayed over security concerns resulting from the war of insurgency that the ISIL terrorists have waged in Iraq.

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