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7/17/07

The Economic Times: Iran to sell gas to Europe via Nabucco

The Economic Times

Iran to sell gas to Europe via Nabucco

Iran to sell gas to Europe via Nabucco

Iran will sell its gas to partner countries of the Nabucco gas pipeline, a project to pump Caspian gas to Europe via Turkey, Bulgaria, Hungary and Austria, an Iranian official told a news conference in Turkey on Tuesday. The official also said a deal with Turkey to sell gas and develop Iran’s South Pars gas fields will not affect an existing agreement made with Austria’s OMV. “We will sell our gas through Turkey to Nabucco partner countries, including Austria,” said Iranian economic relations under-secretary Ahmed Noorani.

The Nabucco pipeline, which is estimated to cost e 4.6 billion, is projected to carry 31 billion cubic metres of Caspian and Middle East gas to European markets.

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