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Iran to export natural gas to Lebanon

05 May 2012 16:30 (UTC +04:00)

â€ŽBaku â€“ APA. Iran’s First Vice President Mohammad-Reza Rahimi says Tehran and Beirut have agreed on a plan for the export of the Iranian natural gas to Lebanon via a land route, Press TV reported.

â€œThe high joint cooperation committee of the two countries has agreed on transferring the Iranian natural gas to Lebanon through Iraq and Syria,â€ Rahimi told reporters in the Lebanese capital city, Beirut, on Thursday night, as he wrapped up his two-day visit to Lebanon.

The required arrangements have been made with Iraq during the April visit by the Iraqi Prime Minister Nouri al-Maliki to Iran, he added.

The Iranian vice president pointed out that the value of Iran-Lebanon trade volume is USD 150 million, noting that the two countries have decided to increase the level of their bilateral transactions by 14 times as much the current level.

Rahimi went on to say that based on a USD-1.5 billion investment plan, Iran is set to build three 500-megawatt power plants in Lebanon, adding that further agreements have been made for the construction of six 25-megawatt plants at the value of USD 150 million as well as transfer of 50 megawatts of electricity to Lebanon through the Iraqi and Syrian soil.

During Rahimiâ€™s visit, Tehran and Beirut also agreed to finalize a mutual free trade agreement, grant immediate and free visas to applicants from both states and facilitate the activities of business entities.

The two countries also agreed to expand cooperation in customs procedures and cultural affairs, extradition of convicts, knowledge transfer for promotion of e-government, fight against narcotics and the export of Iranian pharmaceutical products.