Iran Suggests Construction of Caspian Sea-Persian Gulf Oil Pipeline

A05148129.jpgTEHRAN (FNA)- Iranian Foreign Minister Manouchehr Mottaki proposed that a large oil pipeline be constructed to transport Caspian countries’ oil to the Persian Gulf.

According to Mottaki, the Caspian Sea-Persian Gulf pipe will be advantageous and safe. He did not comment on the planned pumping capacity of the pipe, amount of investments and period of construction.

Iranian officials’ statements about importance of the energy security are not intended to gain profits. Energy consumers need that, said Minister.

“Should security of routes not be provided, (uninterrupted) export of oil will not be able,” Mottaki said at the meeting on International Oil Refining Industry in Tehran.

According to BP’s World Energy Review of 2008, proved reserves of the Caspian countries totaled 265.2bln barrels of oil by 1 January 2008, with 138.4bln barrels of Iran, 79.4bln barrels of Russia, 39.8bln barrels of Kazakhstan, 7bln barrels of Azerbaijan, and 0.6bln barrels of Turkmenistan.

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