Iran attracts $2bln foreign capital through BOT contracts, says NIGC head
By Trend
The director of National Iranian Gas Company (NIGC) and the
Iranian deputy oil minister Hamid Reza Araqi said the country has
for the first time managed to attract $2 billion foreign investment
through build-operate-transfer (BOT) contracts.
"Our gas exports to Baghdad and Basra as well as the completion of
the 6th national gas trunkline (IGAT-6) are among the projects
financed through BOT contracts," Araqi said, according to SHANA
news agency.
These projects will help bring back the government’s capital to the
country, he added. "Through employing BOT contracts at National
Iranian Gas Company, $2 billion capital has been invested in the
country for the first time ever".
Araqi said the government will continue to use pipes to export gas
to neighboring countries.
"But for far away countries, we plan to achieve the technology for
Mini-LNG plants," he further added.
The Sixth Iran Gas Trunkline (IGAT-6)–a major component of the
national gas grid–will go on stream by the end of the current
fiscal year that ends in March 2019.
Upon completion, IGAT-6 pipeline project will raise gas supply by
50-60 million cubic meters daily. Some 100 kilometers of the
56-inch diameter pipeline are still under construction.
Oil Minister Bijan Namdar Zangeneh said that Iran is on pace to
boost gas production to 1 billion cubic meters a day by March 2019,
roughly the same time that all South Pars phases are planned to be
up and running.
The gas field, whose development has been divided into 28 phases,
is located in the Persian Gulf straddling the maritime border
between Iran and Qatar.
It covers an area of 9,700 square kilometers, of which 3,700 square
kilometers belongs to Iran.
It is estimated that the Iranian section of the field contains 14
trillion cubic meters of gas and 18 billion barrels of condensates
in place.
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