Iranian, Turkish firms to transport gas to Europe

Iranian newspapers say the country has made an agreement with a Turkish company to form a joint venture to transport gas to Europe. The Sunday report by several Teheran newspapers quotes the head of National Iranian Gas Export Company, Reza Kasaizadeh, as saying "50 percent of the new company" which is expected to transport some 35 million cubic meters of gas to Europe through Turkey will be owned by NIGEC. The report did not identify the Turkish company nor give a name for the joint venture. Iran has the largest natural gas reserves in the world after Russia. However its role in international market of natural gas is tiny due to huge domestic consumption.