ID :
357260
Fri, 02/13/2015 - 21:21
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Domestic consortiums ready for investment in gas export to Iraq

Tehran, Feb 13, IRNA – Deputy Oil Minister said by the month of Ordibehesht (April/May) the required infrastructures for gas export to Iraq will be provided by Iran, adding that so far 14 domestic consortiums have announced readiness for making investment in the project. Hamid Reza Araqi further remarked that the companies have already received the required papers for the investment in the project and should offer their documents at a specific time. The documents will be studied and evaluated by the National Iranian Gas Company (NIGC) and companies with financial capability of $1.5 billion will be considered as eligible, he noted. Araqi said that in order to launch the project, $500 million is needed and elucidated that the companies by possessing $500 million can start the project and complete their undertakings by the next two years. He said the investment will gradually be retrieved through gas export to Iraq. According to the Managing Director of the National Iranian Gas Company, receiving the documents from the applicant companies is not a confirmation to their acceptance, rather their financial capability should be proven. It should be noted that the $1.5 billion tender for the construction of pipeline and relevant installations for gas export to Iraq will be held soon on the basis of B.O.T. (with the return of all the investor’s costs through revenues obtained through gas export to Iraq). Meanwhile, a period of one year has been set for the implementation of the pipeline and pressure control stations and two years for the implementation of the installations for gas compressors.

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