News ID: 209635
Published: 1144 GMT February 07, 2018

Zanganeh: Iran to resume LNG export to Basra

Zanganeh: Iran to resume LNG export to Basra

Oil Minister Bijan Namdar Zanganeh announced that Iran is slated to resume liquefied natural gas (LNG) exports to Iraq's Basra.

"Iran has already begun gas exports to the Iraqi capital Baghdad and will start exporting LNG to Basra in the coming months," Zanganeh was quoted as saying by Fars News Agency.

The minister further said that the development of the remaining phases of South Pars Gas Field is his ministry's top priority.

In addition to crude oil, Iran, as one of the leading producers in the Organization of Petroleum Exporting Countries, has some of the largest reserves of natural gas in the world. Its South Pars field, which is shared with Qatar, is among the biggest in the world.

The International Energy Agency estimates LNG, which has more maneuverability than piped gas, constitutes about 90 percent of the growth in long distance gas trade over the next 20 years.

Iran has long tried to get more gas into the open market as a possible option for diversifying the European energy sector that depends heavily on Russia for natural gas.

Press TV reported that the Iraqi military has begun large-scale operations along the common border to clear the gas transfer route.

The Iraqi operation is aimed at opening up a route for a planned oil corridor from northern Iraq into Iran.

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