Iran to pump gas to Basra by yearend: Deputy minister

'Iran's gas will reach Basra most likely by the end of the Iranian calendar year (March 20, 2018),' Hamid-Reza Araqi told the Islamic Republic News Agency (IRNA).

Iraq is Iran's southwestern neighbor, and its port city of Basra is located in southeast of the country at northern edge of the Persian Gulf.

The problems related to receiving money from Iraq for its imports of Iran's gas has been solved, Araqi added.

Araqi, who is also managing director of National Iranian Gas Company (NIGC), said that the part of the gasline in Iran's soil has been constructed.

The part of the pipeline in the neighboring country is not ready yet, but it may be completed within three months, the official added.

According to Iran's Sixth Five-Year Development Plan (2015-2020), it is planned to export 80 billion cubic meters of gas annually, 50 billion cubic meters of which is to be exported to the neighboring countries.

Turkey, daily importing over 30 million cubic meters of gas from Iran, is now the biggest customer of Iran's gas.

Following the completion of the gas pipeline project between Iran and Iraq, the Arab nation will overtake Turkey. When Iran starts pumping gas to Basra, the exports to Iraq will reach 40 million cubic meters a day.

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