ECONOMY

Iran to pipe gas to Europe via Turkey

TEHRAN (Reuters) – Iran and Turkey have agreed on a joint scheme to export Iran’s natural gas to Europe via Turkish pipelines, Tehran’s Oil Minister Kazem Vaziri-Hamaneh said yesterday. Iran has been considering Ukraine and Turkey as possible routes to Europe and in July 2005 it announced a preliminary agreement with Ukraine to use its pipelines. «We agreed to increase the capacity of Iran’s pipeline that connects to Turkey’s pipeline and jointly export gas to Europe,» Vaziri-Hamaneh was quoted by the Oil Ministry website as saying. Apart from using the 5 billion cubic meters per day of vacant capacity in Turkey’s pipelines, Hamaneh referred to the proposed Nabucco pipeline as a second means to pump gas through Turkey. «The Nabucco pipeline has 90 million cubic meters (per day) of capacity and 30 to 50 percent of its capacity will be allocated to Iran,» he said.