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Iraq signs a contract for the supply of gas from Iran for a period of six years, subject to extension

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Rocky


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Iraq signs a contract for the supply of gas from Iran for a period of six years, subject to extension



November 14, 2015 0


Executive Director of the National Iranian Company for Gaz- Hamid Reza Iraqi, said that the total volume of Iranian gas supply to Iraq will reach 45 to 60 million cubic meters per day after the conclusion of the new contract.

He explained, "Iraqi" ceremony to sign the new contract for the supply of Iranian gas to the province of Basra, that under the contract, the National Iranian company will be run 20 to 35 million cubic meters to power stations in Basra, mainly next to the existing contract for the supply of gas stations Baghdad.

He pointed out that the total volume for the supply of Iranian gas to Iraq would range between 45 to 60 million cubic meters per day, after the signing of the new contract.

And "Iraqi" that he will pass the 35 million cubic meters of gas per day from May to September period in the summer, and in the remaining months of the year will pass the 20 million cubic meters per day.

He pointed out that the process of the supply of gas to Iraq will pass-through capacity of 7 million cubic meters per day, and in three phases to be up to the ceiling agreed upon. To begin the first phase seven million cubic meters per day, for the past 6 months, followed by a pass 14 to 18 million cubic meters daily for 12 months, and thus 20 to 35 million cubic meters per day will be supplied to the province of Basra.

He explained Executive Director, that the new contract period is 6 years, extendable according to the request of the parties.

The "Iraqi" to the export value of the contract is declared, and it is calculated according to the oil and oil derivatives formula.

He pointed out that the process of exporting Iranian gas to Basra will begin after a year and a half from the date of signing of the contract in the absence of constraints, while the gas is passed to the Baghdad operation, will begin after the lifting of some of the thumbs in the first quarter of 2016.

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