IRAN

Cost of Iran-Turkey Pipelines Put at $14bn 

The total cost of the proposed oil and gas pipelines between Iran and Turkey would be some $14bn, according to Iran's Minister of Heavy Industries, Mr. Behzad Nabavi.

Speaking in an interview with the IRNA news agency on 5 February, Mr. Nabavi said that the oil line, which would transport Iranian crude to a terminal on Turkey's Mediterranean coast, would have a capacity of 1.5mn b/d and would cost an estimated $3bn. The gas...