Iran Dumps New Gas Pipeline Plans Amid Global Price Drop
The National Iranian Gas Export Company (NIGEC) has cast doubt on the economic viability of exporting natural gas to Europe through a new pipeline. According to Alireza Kameli, NIGEC's managing director, the international price of natural gas has decreased, making it unprofitable to construct a new pipeline.
Kameli suggested that Iran could export gas to Europe by using existing pipelines or constructing shortcuts to them instead. The country is also exploring options such as connecting with Turkey's Trans Anatolian Pipeline (TANAP) to export gas to the EU.
Iran had previously pursued plans to export natural gas to Europe, but these were abandoned due to complications, including US-engineered sanctions against the Iranian energy sector. A tentative scheme developed in cooperation with Nabucco envisaged piping Iranian natural gas from Assaluyeh to Turkey and then to Europe, but this was also abandoned.