From FARS News:
TEHRAN (Fars News Agency)- Turkey will invest $3.5 billion in Iran's South Pars gas field starting from 2008, two senior Turkish energy ministry officials said yesterday.
The sources, who declined to be named, said that Turkey could also set up a partnership with a European Union member state that is already doing business in Iran. Late last week Turkey announced that it had signed a deal to use Iran as a transit route for Turkmen gas and that it would also develop Iran's South Pars gas field to transport gas on to Europe. Both Ankara and Tehran have made it clear that they see Iran as a potential partner for the EU and US-backed Nabucco gas pipe-line project, which was conceived as a way to diversify gas supplies to
European markets. The United States has voiced its opposition to the memorandum of understanding between Turkey and Iran. Iranian Oil Minister Kazem Vaziri Hamaneh had said on Saturday details on developing the phases 22, 23 and 24 of South Pars gas field by Turkey would be finalized in four to six months. The South Pars field is divided into phases with different sections going to different companies. "Details ... will be studied next month when
Turkey's energy minister visits and in four to six months the necessary agreements will be signed," he said. The minister added that the phases would be developed under so-called "buy back" terms. Under Iran's buyback terms, firms hand over operations of fields to the National Iranian Oil Company after development and then receive payment from oil or gas production for a few years to cover their investment.
6 comments:
Interesting. And Turkey has thousands of troops parked along the Iraq border to take out the Kurd issue.
Holy S---, Batman!
Who's friends with who. Everyday we hear that countries that Bush is involved with are now dealing with the so called enemy. As Bush gets weaker and weaker look for others to make deals and leave the US out. Soon the Middle East will have enough US money and control to do as they please.
Yes, Jackie, this administration has to take into account who is friends with who, hopefully by the end of this term we have some US allies left.
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