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Thu 18 Oct 2007 12:38 AM

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Iran plans $130bn gas investments

National Iranian Gas Company outlines 20-year plan to help country meet rising demand.

Iran is to invest $130 billion over the next 20 years to help meet rising domestic demand for natural gas.

The National Iranian Gas Co (NIGC) will allocate $90 billion to gas transmission projects according to Shana, reported Dow Jones.

Managing director of the state-run firm, Seyed Reza Kazzaeizadeh, said “Based on the 20-year outlook plan, $130 billion will be invested, out of which $90 billion will be allocated to the gas transmission projects” the newswire reported.

The company will add to its existing pipeline network with 53,000 new kilometres of pipelines and 140 gas booster stations.

“Under current circumstances, demand for gas in cold season is higher than supply and the output falls to meet the need” Kassaeizadeh said.

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