Tag Archives: National Iranian Gas Co. (NIGC)

The country aims to raise output to over 1 billion cubic meters by March 2018.

The fund is expected to raise $100 billion a year by 2020. with developed nations to make the most contributions.

The sixth refinery is included in phases 15 and 16 of the South Pars complex. The South Pars. by far the world'.s largest natural gas field. is a natural-gas condensate field located in the Persian Gulf.

Iran'.s gas export to Baghdad via Khanaqin pipeline began in late June this year. Iraq and Iran have signed two agreements to transfer gas to Baghdad and Basra.

Iran and Iraq initially signed an agreement in 2013 based on which the Islamic Republic would export natural gas to power stations around Baghdad through a 270-kilometer pipeline.

An estimated $2 billion in projects are underway to expand the natural gas network to 46 small towns and 5.000 villages by the end of the current fiscal year.

Iraq. which overtook Iran as the second OPEC producer when Tehran was slapped with intensified sanctions. exported 3.93 million barrels a day in May.

Gas exports to Iraq have begun at a rate of 7 million cubic meters per day and will eventually increase to 18 mcm d in two years.

Iran has inked two separate contracts to export the product to Iraqi cities of Basra and Baghdad.

The South Pars oil layer is located 130 kilometers off Iran'.s coast in the Persian Gulf with an estimated 7 billion barrels of oil in place.