Sun Sep 16, 2012 3:8PM
This file photo shows a section of Iran-Turkey gas pipeline.

This file photo shows a section of Iran-Turkey gas pipeline.

Ankara has given the nod to re-export Iran’s natural gas to northern Europe through its soil following new gas agreements between Iran, Turkmenistan and Turkey. Turkey has not determined any volume for the planned exports, and Iran is authorized to export as much gas as it agrees upon with the European countries via the Turkish soil. Iran is already constructing a new gas pipeline for gas exports to Europe. The pipeline would carry gas from Assaluyeh, in southern Iran, to Syria via Iraqi soil, and then to Lebanon for final delivery to Europe through the Mediterranean Sea. The construction of this new pipeline is expected to be completed by December 2013. Iran’s natural gas is of crucial importance to Turkey, as it constitutes one-third of the total Turkish natural gas imports. Turkey uses a significant portion of imported Iranian natural gas to generate electricity. Iran, which owns the world's second-largest natural gas reserves after Russia, is Turkey's second-biggest supplier after Moscow. KA/PKH/AZ
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