Iran, Turkmenistan to supply gas to Europe
A senior Turkish energy official said that Iran and Turkmenistan will pump 30 billion cubic meters of gas a year to Europe via Turkey, leaving no need for alternative supplies to the Nabucco pipeline project, Reuters reported. The official also announced that Turkey and Iran have agreed that the Turkish Petroleum Corporation (TPAO) will produce 20 billion cubic meters (bcm) of natural gas in the three phases of Iran's South Pars gas field.
Iran and Turkey have signed a preliminary agreement to pump Iranian gas to Europe via Turkey, a move that will open a new export market for Iran's massive reserves. The memorandum of understanding includes an agreement to pump gas from Turkmenistan to Turkey through Iran, and Tehran's approval for Ankara to develop the three phases of South Pars.
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