Turkey says it will go ahead with its 3.5 billion dollars gas development in Iran

Nicosia, Oct 25 (ANI): Turkish Energy Minister Taner Yilldiz has said that his country plans to go ahead with its 3.5 billion dollars natural gas development of phases 22,23 and 24 in Iran's South Pars gasfield.

Yildiz was quoted by Tehran Times as saying that Turkish Prime Minister Tayyip Recep Erdogan would discuss the matter further during his forthcoming trip to Tehran.

The Turkish and Iranian Governments agreed in July 2007 that the Turkish Petroleum Corporation (TPAO) would produce 20.4 billion cubic meters of natural gas annually from three development phases of Iran's South Pars gas field, but the deal has been delayed.

Recently, the TPAO was given 30 days to finalize its plans to develop the three phases, otherwise phases 22, 23 and 24 will be given to Iranian or other foreign firms.

During a visit by the Turkish delegation in November 2008, plans for the construction of an 1800-kilometer pipeline for transferring natural gas from Assaluyeh to the Turkish border was discussed.

The objective was to increase the volume of Iran's gas exports to Turkey, and the transit of natural gas to Europe.

Turkey is currently receiving some 50 million cubic meters of Iranian natural gas and if the development of the three phases of the South Pars is successful more than 20 million cubic meters would be added to that figure. (ANI)