NIGC in talks over gas investments

The National Iranian Gas Company (NIGC) has entered into talks with 17 domestic and foreign companies for investment in gas industry, managing director of NIGC, Hamidreza Araqi said.

Araqi told that NIGC has changed its investment procedures, adding that in the past, the contractors and investors tasked with providing necessary funds for investment received the funds for implementation of the projects, Iran’s SHANA news agency reported.

He added based on the new changes, investors and contractors should join together for funding and implementation of the projects.

According to NIGC’s top executive, the company is in talks with several domestic and foreign companies to finalize the investment packages.

Earlier head of the specialized committee of investment at NIGC, Asghar Soheilipour told that 13 companies from Asia and Europe and 4 domestic companies have expressed their readiness for investment in gas industry projects.

He added during several meetings with the foreign and domestic companies, NIGC has presented reports about the specifics and necessary funds for going ahead with investment in the projects.

Press Release, September 22, 2014; Image: NIGC