Thursday, 18 November 2010

Iran ready to sell gas to Europe says Ahmadinejad

The Iranian president, Mahmoud Ahmadinejad, has said the Islamic republic is ready to sell gas to Europe via the European Union-backed Nabucco pipeline project.

"Europe needs Iranian gas and we are ready to sell gas to them at an acceptable price if they want," said Ahmadinejad during a news conference in Baku, Azerbaijan.

Iran has been hit by four rounds of sanctions imposed by the US and EU over its nuclear programme, which the West believes is aimed at developing nuclear weapons.

The $11 billion Nabucco pipeline is part of the EU's effort to diversify its natural gas supplies by bringing up to 31 billion cubic metres of gas annually from the Caspian region to an Austrian hub via Turkey and the Balkans.

Source: Reuters

For more news and expert analysis about Iran, please see Iran Strategic Focus.

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