Iran-Turkey gas deal may fail

PanARMENIAN.Net - The Iran-Turkey gas deal needs to be approved by Majlis, the chairman of the Majlis Energy Committee said here on Wednesday.



The Mehr News Agency quoted Hamid-Reza Katouzian as saying that, "According to Iran's Constitution all the international contracts needs to be approved by the Majlis."



"The recent agreements between Iran and Turkey have not been approved by Majlis, so it is probable that the deal be cancelled," he added.



Iran and TPAO signed an agreement in 2008 based on which the Turkish side undertook to produce 20.4 billion cubic meters (bcm) of natural gas annually from three development phases of Iran's South Pars gas field, but the deal has been delayed.



In October Iran gave TPAO one month's deadline to finalize the deal to develop phases 22, 23 and 24 of South Pars but extended the deadline by three months during the Turkish high-ranking delegation's visit to Tehran last month.



During the visit Iran and Turkey signed a memorandum of understanding to broaden ties in the field of gas industry.



Iranian Oil Minister Masoud Mirkazemi and Turkish Energy and Natural Resources Minister Taner

Yildiz signed the MOU.



Transferring Iranian gas to Europe via Turkey, boosting the presence of Turkish firms in Iran's petrochemical sector, and developing Iran's gas fields were among the MOU items, Tehran Times reported.