In an interview with Mehr news agency, speaking on the verge of conclusion of contract for Nabucco pipeline in Ankara, Turkey, Kasaizadeh added: “The pricing and a number of other political issues of concern have been the most important hurdles on the way of export of Iran’s gas to Europe. But, given the considered approaches, we expect these two cases to be generally solved.”

The capacity for transference of gas by Pars pipeline stands at almost 110m cubic meters per day and according to plans this pipeline with go through Turkey, Greece, Italy, Switzerland, Austria, and Germany.

Investments worth nearly $4b are needed for construction of this pipeline and its needed gas is due to be fed by five phases of South Pars Gas Field.

In case of implementation of this project, its annual transference capacity will total 37b cubic meters of gas.

Furthermore, Kasaizadeh referred to plans made for enhancement of the daily gas production capacity within the framework of 5th Economic Development Plan, while reminding that further plans have been made for a significant volume of gas exports within the next decade.

He underscored: “Given the rise in global demand, we predict the export of 215m cubic meters of gas via pipeline and equivalent to 356m cubic meters of gas in the form of LNG within the next decade.”

According to Kasaizadeh, with due regard to Iran’s significant natural gas deposits and predictions which herald a significant surge in gas consumption worldwide, fulfillment of the set goal seems likely.

Meanwhile, experts believe by the year 2030, only the European countries’ gas imports will go beyond 477b cubic meters per annum. Currently, Europeans gas imports have been estimated at 241b cubic meters per year.

Elsewhere, Kasaizadeh said currently the leaders of Nabucco Consortium have relied on gas sources, which will not fulfill their needs in the future.

He added that: “One of the most important problems in construction of Nabucco pipeline is the related distance. With due regard to low crude prices, implementation of this pipeline in long distances is not justified economic-wise.”

Kasaizadeh underlined with regard to high costs of production and transference of gas, costly maintenance of pipeline and transit of gas, sellers can not even compensate for their production costs at the point of delivery, in comparison to importing expenses.