An Iranian pipeline through Europe

According to the memorandum of understanding, Iran, home to the second-largest petroleum reserves in the world (after Russia), will provide Turkey with the natural gas to transfer and sell to Europe via the proposed Nabucco pipeline. The proposed pipeline, expected to cost 4.5 billion euro and be 3,300 kilometers long, will be based in Iran, Azerbaijan, Turkmenistan and Kazakhstan. Gas supplies for a secondary branch of the pipeline, which will pass through Jordan and Syria, are supposed to come from Egypt. Turkey will receive an unknown amount of gas from the pipeline, which is ultimately supposed to yield 31 billion cubic meters of gas for sale in its territory; and Ankara will also receive a concession allowing it to develop three gas fields in Iran, and all without a tender.

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