Iran plans cross-country oil pipeline

[Afshin]

PTV - Iran plans to build a cross-country pipeline to transfer oil from the Caspian region to the Persian Gulf and world markets.

Iran's Deputy Oil Minister Hossein Noqrekar-Shirazi announced plans for the oil pipeline, which will link Neka Port in the north of the country to Jask Port in the south.

The pipeline will "transfer oil from the Caspian Sea all the way down to the Persian Gulf and finally to the international markets," Noqrekar-Shirazi told IRNA on Tuesday after arriving in Baku, Azerbaijan for an energy conference.

The Iranian deputy minister said the pipeline will have the capacity to carry one million barrels of oil per day but he did not elaborate on the projected cost or completion date of the project.

"Iran has several major plans for the Caspian region,” Noqrekar-Shirazi said, including the construction of "two major oil refineries along the Caspian Sea coastline to refine crude extracted from the oil-rich area."

Noqrekar-Shirazi added the construction of six 63,000-ton ships was also currently underway along the Caspian coastline to facilitate shipment of oil and gas.

The official described Iran as a politically stable country and said the Islamic Republic remains the best route for transferring oil and gas from regional countries to Europe.