Iran-Turkey Gas Deal Gives New Hope for EU Nabucco Pipeline

According to statements made Sept. 27 by the Turkish Minister of Energy Hilmi Güler, Ankara and Tehran plan to sign an accord this month on the exploitation of the natural gas reserves of South Pars on the southern Iranian coast. In a preliminary agreement concluded in July, it had already been agreed that Turkey’s state-controlled oil company would invest some $3 billion over seven years in the construction of operating equipment. In addition, Turkish and Iranian enterprises are supposed to develop joint ventures for the transport of the gas by way of a pipeline system that will extend to eastern […]

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