Turkey to invest dlrs 12b in Iran

Tehran, Nov 19, IRNA - Turkish Energy Minister Hilmi Guler anticipated that Turkey may make a dlrs 12 billion investment in Iran.

The money will be spent on developing phases of South Pars offshore
gas field in southern Iran and construction of gas pipeline from
Assalouyeh to Turkish border.

Referring to the agreement signed by Iran's Oil Minister Gholam
Hussein Nozari and Guler late Monday in Tehran, Guler cited the
agreement as vital.

"We will implement every bilaterally inked agreement," the Turkish
minister said.

Iran and Turkey inked a memorandum of understanding (MoU) according to
which Turkey will invest in developing phases 22, 23 and 24 of Iran's
South Pars gas field and will buy 50 percent of its produced gas when
the project is completed.

As per the MoU, Turkmenistan's gas will be transferred from Iran to
Turkey and Iran will pipe its gas to Europe through Turkey.

Iran will transfer 35 billion cubic meters of Turkmen gas to Turkey annually.