Iran to export natural gas to Iraq

Managing Director of Iran's Gas Engineering and Development Company Ali Reza Qaribi said that upon completion of the 220-km gas pipeline, it will carry a daily amount of 25 million cubic meters of Iranian natural gas to Iraq. "The 48-inch gas pipeline to Iraq, which will run for 220 kilometers, will be a branch of Iran's sixth national gas pipeline," he said Friday. Qaribi went on to say that building the pipeline will begin as soon as a new gas deal is signed between Iran and Iraq. "The 450-million-dollar project will be built by Iranian contractors," he noted. Iran has 137.6 billion barrels of proven oil reserves and 29.61 trillion cubic meters of proven gas reserves, ranking second in the world in both oil and gas reserves. According to the Iranian officials, Iran produces 600 million cubic meters of gas per day, 37 million cubic meters of which are exported.