Turkey, Iran sign accord to improve natural gas cooperation

Güncelleme Tarihi: Kasım 18, 2008 17:54

Hurriyet DN Online with wires

Oluşturulma Tarihi: Kasım 18, 2008 10:56

Turkey and Iran signed on Monday a memorandum of understanding to improve cooperation in the field of natural gas and to launch current projects, a move likely to draw criticism from the United States. (UPDATED)

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Turkish Energy Minister Hilmi Guler and Iranian Oil Minister Qolam Hosein Nozari signed the agreement which Guler said "would have positive reflections on both the regional as well as global levels".

With the agreement, Turkey secures the operation rights of three gas fields in Iran's South Pars region to produce some 46 million cubic meters per day and to use half of that amount.

The accord covers the development of three phases -- 22, 23 and 24 -- in the South Pars offshore gas field with Turkish investment as well as the transfer of gas to Europe via Turkey.

It envisages the joint construction of a 1,850-kilometer (1,200-mile) pipeline from the southern Gulf port of Assaluyeh, off which South Pars lies, to the Bazargan border area with Turkey in northwest Iran.

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"We are making a contribution to the security of energy supply, which is a very important issue. Both Turkey and Europe need natural gas," Guler was quoted by Anatolian Agency as saying.

Guler anticipated that Turkey may spend $12 billion on developing the project, Iran's official IRNA news agency reported.

Each phase of South Pars gas field has been designed to produce 25 million cubic meters of gas a day. Turkey already buys gas via a conduit from the northwestern Iranian city of Tabriz to Ankara at a rate of around 10 billion cubic meters a year.

Turkey and Iran had signed a preliminary agreement on energy cooperation and agreed to develop part of the South Pars gas field in 2007.

The initial gas deal in 2007 was criticized by Washington, which urges its allies -- including NATO member Turkey -- to cut business with Iran over Tehran's controversial nuclear program.

Turkish Prime Minister Tayyip Erdogan said last week that Ankara could play a positive role as a mediator in the stalled negotiations between the West and Iran over its nuclear program.

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Turkey, Iran sign accord to improve natural gas cooperation

Turkey and Iran signed on Monday a memorandum of understanding to improve cooperation in the field of natural gas and to launch current projects, a move likely to draw criticism from the United States. (UPDATED)

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