Economic Council to Decide on Gas Pipelines' Funding

Economic Council to Decide on Gas Pipelines' FundingEconomic Council to Decide on Gas Pipelines' Funding

The economic council of the government will assess a plan to finance the 6th, 9th and 11th gas export pipelines, the planning and supervision deputy of the oil ministry said Monday.

Mansour Moazzami said the laying of the pipelines can be financed from Note 2(G) of the national budget law if the economic council approves the funding, Shana reported.

Note 2(G) establishes the investment framework for the oil ministry, allowing it to invest up to $100 billion in oil and gas projects in line with Article 44 of Iran Constitutional Law to help open new opportunities to the private sector and boost privatization.

The 9th pipeline –stretching along the 6th pipeline in the west of Iran- carries gas from Asaluyeh in Bushehr Province to Turkey, which could then be exported to Europe.

The 6th pipeline is planned to export gas to Iraq. The 11th with a length of 1100 kilometers can export 110 million cubic meters of gas per day. It starts from Asaluyeh, passes through Bushehr, Fars, Yazd, Isfahan and Semnan provinces and eventually joins the 48-inch Tehran-Mashhad pipeline.

Moazzami also said the Persian Gulf Petrochemical Industry Co. (PGPIC) will undertake the development of Bid Boland 2 refinery in Bushehr Province by the next 2 months and the National Development Fund of Iran (NDFI) and three private banks will finance the project.