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Thu 18 Nov 2010 12:42 PM

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Iran ready to sell gas to Europe - Ahmadinejad

Iran may one day supply gas via the European Union-backed Nabucco pipeline project

Iran ready to sell gas to Europe - Ahmadinejad
IRAN HEAD: Iran president Mahmoud Ahmadinejad. (Getty Images)

Iran
is ready to sell its gas to Europe, Iranian President Mahmoud Ahmadinejad said
on Thursday, raising the prospect of one day supplying gas via the European
Union-backed Nabucco pipeline project.

"Europe
needs Iranian gas and we are ready to sell gas to them at an acceptable price
if they want," Ahmadinejad told a news conference in Baku during his visit
to Azerbaijan.

Iran
is facing tighter sanctions imposed in June by the United Nations, United
States and European Union over its nuclear programme, which the West believes
is aimed at developing a nuclear weapons.

The €7.9bn ($11bn) Nabucco
pipeline is part of the EU's effort to diversify its natural gas supplies by
bringing up to 31 billion cubic metres of gas annually from the Caspian region
to an Austrian hub via Turkey and the Balkans.

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khdmohd Energy Expert 9 years ago

I have been involved with down stream gas project to use Iranian gas in the UAE , unforturnitly from 2005 Iran has shown to be unreliable gas supplier to its nioughbers ( UAE & Oman ) . I strongly beliefe that IRAN will never supply gas to any GCC country despites the promices published in daily news , the same can be said about gas to Naboco pipline in which sanctions will cease such supplies . Also Iraq can esily replace Iran as a gas supplier ti Eurepian market via pipeline in short term and LNG in long term .
I have advised many gas users in UAE that Iran south area are short of gas , as it is needed to crude production enhancements , thus providinh Iran with oil energy value of 15 USD per one MMBTU of gas , therefore it is not profitable to sell to UAE or any GCC for below 10 USD per MMBTU . The UAE market will accept only gas prices below 8 USD for long term gas supply contract , which iran will refuse any way > other experiences with Turky proves that Iran is unreliable gas s