Iran signs $4bn worth of gas contracts

The managing director of the National Iranian Gas Company (NIGC) says the firm has signed contracts worth USD 4 billion over the past 10 months.

Javad Oji said on Monday that the agreements cover gas field development and gas pipelines construction, IRNA reported.

“The construction of Bidboland 2 gas refinery and production of ethane gas in Parsian refinery will be launched after 36 months,” he said.

Oji, who is also Iran’s deputy oil minister, also explained that the two projects are worth about four billion dollars.

Seventeen percent of Bidboland 2 refinery has been constructed and the implementation of Parsian project would start after signing the contract, he said.

Upon the launch of Bidboland 2 refinery, Iran’s natural gas output would reach 57 million cubic meters per day, its ethane and propane output would reach 1.5 million tons and 1.4 million tons per year respectively, said the NIGC official.