$10b Investment Prospect in Gas Industry

$10b Investment Prospect in Gas Industry$10b Investment Prospect in Gas Industry

An estimated $2.4-$3 billion will be invested in gas projects under the supervision of the National Iranian Gas Company (NIGC) in the current Iranian calendar year (started March 21), NIGC managing director said, Fars news agency reported Friday.

Hamidreza Araghi underlined the present year as one of the biggest years for the NIGC in terms of investment and said gas distribution to cities and rural areas will continue according to the national budget law.

Investors will be invited for the expansion of national gas network. Note 2(G) establishes the investment framework for the oil ministry, allowing it to invest up to $100 billion in oil and gas projects to help open new opportunities to the private sector and boost privatization.

The completion of the 6th national pipeline for gas export to Iraq as well as laying the gas pipeline in Sistan and Balouchestan Province are among major plans of the NIGC in the present year.

Araghi stressed that three local contractors, including Khatam al-Anbia engineering firm and Payandan Co., have undertaken the Iran-Iraq gas pipeline, while the western Arab neighbor has completed laying the pipeline in its own territory.