Iran has reached an agreement with Iraq to increase its electricity exports to its western neighbor, an Iranian vice president says.At present, nearly 1,300 megawatts of electricity is exported to Iraq and it is forecast that nearly 150 megawatts will be added to the volume of Irans electricity exports to this neighboring country, Ali Saeedlou said Sunday.
Saeedlou, who is the Vice President for International Affairs, said one of the goals of Irans electricity exports to Iraq is eventually transmitting this energy carrier to Syria and Lebanon in the near future.
He put the volume of trade exchanges between the two countries at USD 16 billion a year.
The official stated that Iran would soon start delivering natural gas to Iraq to feed its power plants.
Iranian Deputy Oil Minister Javad Owji said in March that Iran would start exporting 40 million cubic meters (mcm) a day of natural gas to Iraq by summer 2013.
The pipeline will stretch from Assaluyeh, near the massive offshore South Pars Gas Field in southern Iran, and will continue into neighboring Iraq to feed three Iraqi power plants running on gas.
The South Pars Gas Field, which is shared with Qatar, holds about 14 trillion cubic meters of gas, or about eight percent of the total world reserves, and more than 18 billion barrels of liquefied natural gas resources.
Iran, which sits on the world's second largest natural gas reserves after Russia, is making efforts to up its gas production by increasing foreign and domestic investments, especially in South Pars Gas Field.
By Press TV
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