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Context of 'August 12, 1996: Turkey and Iran Ink Major Pipeline Deal'

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Turkey signs a $23 billion deal with Iran, agreeing to buy up to 350 million cubic feet per day (mmcf/d) of Iranian liquefied natural gas (LNG). The deal is met with criticism by the United States, which wants to isolate Iran. Turkey’s demand for natural gas is expected to quintuple by 2010 to 2.9 billion cubic feet per year (Bcf/d). Under the terms of the agreement, Iran will supply Turkey with three billion cubic meters of gas a year, increasing to 10 billion cubic meters (353 billion cubic feet) by 2007. [US Department of Energy, 8/1996; BBC, 7/30/2001]

Timeline Tags: US confrontation with Iran

July 26, 2001: Tabriz-Ankara Pipeline Opened

Despite a history of technical problems, the National Iranian Oil Company (NIOC) and the Turkish oil and gas company, Botas, open a 2,577 km pipeline gas pipeline from the northeastern city of Tabriz to Ankara. Iran becomes Turkey’s largest supplier of natural gas. Under the terms of the 1996 agreement (see August 12, 1996), Iran will supply Turkey with three billion cubic meters of gas a year, increasing to 10 billion cubic meters (353 billion cubic feet) by 2007. [BBC, 7/30/2001; US Department of Energy, 12/2001; Alexander's Gas & Oil Connections, 11/13/2002; AME Info, 2/9/2005]

Timeline Tags: US confrontation with Iran

India announces that it has agreed to a $40 billion deal with Iran. Under the terms of the agreement, the National Iranian Oil Company (NIOC) will sell 5 million tons of liquefied natural gas (LNG) annually to India over a 25-year period with the possibility of increasing the quantity to 7.5 million tons. India’s price will be computed at 0.065 of Brent crude average plus $1.2 with an upper ceiling of $31 per barrel. As part of the deal, India’s ONGC Videsh Ltd (OVL) will participate in the development of Yadavaran, Iran’s largest oil field. India’s share in the oil field will be 20 percent, which translates into roughly 60,000 barrels per day of oil. Iran has retained a 30 percent stake while the Chinese state oil company Sinopec secured a 50 percent share in an agreement signed at the end of October (see October 29, 2004). India’s deal with Iran will also provide India with 100 percent of the rights in the 300,000-barrel-per-day Jufeir oilfield. [Asia Times, 1/11/2005; World Peace Herald, 1/17/2005] The agreement could give new impetus to the long proposed Iran-Pakistan-India gas pipeline project (see 1993). The Tehran Times, which is known to represent the views of the Iranian government, comments, “The Iran-India agreement on LNG exports will pave the way for the implementation of the project to pipe Iranian gas to India via Pakistan and the dream of the peace pipeline could become a reality in the near future.” [Asia Times, 1/11/2005]

Entity Tags: National Iranian Oil Company, Sinopec, ONGC Videsh

Timeline Tags: US confrontation with Iran

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