Turkey seeks deadline extension on Iranian gas deal
Wednesday, 04 Nov 2009
Reuters reported that Turkey has asked for a 3 month extension of a deadline to help clarify the details of USD 3.5 billion deal to develop part of the world’s largest gas field in Iran.
Turkish industry source said that Tehran had given state oil company Turkish Petroleum a 1 month deadline to finalize the agreement regarding Phases III of the South Pars natural gas field in the Gulf.
Mr Massoud Mirkazemi oil minister of Iran suggested that Ankara was now seeking a further extension.
He said that “We had an agreement which will end next month but the Turkish side requested to extend the deadline for another 3 months to clarify the forms of investment and more details of the cooperation.”
Mr Taner Yildiz energy minister of Turkey said that Turkey would start exploration work on South Pars in November in a project to export gas to Europe.
The Turkish and Iranian governments agreed in July 2007 that Turkish Petroleum would produce an annual 20.4 billion cubic meters of natural gas from three South Pars development phases. The deal has been delayed amid objections from Turkey's ally the US which opposes new energy deals in Iran as part of efforts to isolate Tehran over its nuclear program.
