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$11b for 3 South Pars Pipelines

$11b for  3 South Pars Pipelines$11b for  3 South Pars Pipelines

The Economic Council of the government has approved $11 billion help to complete the 6th, 9th and 11th national gas pipelines according to the integrated development plan for remaining phases of South Pars gas field.

Office for economic and financial feasibility study of integrated plans at National Iranian Oil Company (NIOC) announced the approval of a total $29 billion by the council in line with Note 2(G) of the national budget law. It was also decided that $6 billion would be financed from NIOC's internal resources towards bank interests, salaries and payments to contactors, SHANA reported.

The council also decided that a workgroup comprising representatives from ministries of petroleum, economic affairs and finance, Central Bank of Iran and vice-presidency for strategic planning and supervision will meet in the coming month to provide solutions to the council regarding investments for South Pars development plans.

The 6th pipeline is planned to export gas to Iraq. 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 11th pipeline 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.

Office for energy efficiency monitoring and evaluation of NIOC announced their first session in current year (March 2014-2015) focused on studying and following up investment projects for Pars Special Energy/Economic Zone.

The latest operations related to management and maintenance of relevant facilities was discussed and it was decided to follow up the pending projects, especially the electrical and flood control facilities in the said zone.

 

 

Financialtribune.com