Iran aims to extend its Pakistan-India natural gas pipeline to Bangladesh, Abbas Vaezi, Iranian ambassador to Bangladesh said Thursday, according to Iranian Republic News Agency (IRNA).
The project envisages carrying natural gas from Iran's rich South Pars gas field to Pakistan first; then to India, and finally to Bangladesh, after the sanctions on the country are removed.
Although Iran stated earlier that it completed its part of the pipeline to the Pakistani border, Pakistan has not yet completed its part of the project since it had been wary of western sanctions.
Ambassador Vaezi told that Iran has talked with Pakistan and India about the gas pipeline project, and now is prepared to negotiate with Bangladeshi officials about extending the pipeline.
'Iran and Bangladesh have already had talks in this regard, but the project needs feasibility studies before implementation,' he explained, according to IRNA.
Ambassador Vaezi noted that Iran has invited the Bangladeshi Minister of Power, Energy and Mineral Resources Nasrul Hamid to visit Tehran to discuss the project and cooperation in other fields of energy.
In addition, he also emphasized his country's readiness to export oil to Bangladesh.
With the removal of sanctions and drawing foreign investment into its energy sector, Iran aims to increase both its gas and oil sales. For natural gas exports, the country looks a stronger towards the east where gas prices are higher than Europe at the moment.
Bangladesh consumed all of its domestically produced natural gas, 23.6 billion cubic meters, in 2014, according to BP's Statistical Review of World Energy 2015.
By Ovunc Kutlu
Anadolu Agency
ovunc.kutlu@aa.com.tr