LONDON — Russian oil major Rosneft will invest in gas pipelines in Iraq's Kurdistan, expanding its commitment to the region ahead of its independence vote to help it become a major exporter of gas to Turkey and Europe. Now Rosneft is widening its investments to gas by agreeing to fund a natural gas pipeline in Kurdistan, Rosneft and the Kurdistan Regional Government (KRG) said on Monday. Two sources close to the deal said the investments would amount to more than $1 billion (735.35 million pounds). Kurdistan is holding an independence vote on Sept. 25 as it seeks to part ways from Baghdad after years of disputes over budget revenues and the sharing of oil exports. Advertisement Continue reading the main storyErbil, the seat of the KRG in northern Iraq, needs money to fund the fight against Islamic state and a budget crisis caused by low oil prices.

Source: New York Times September 18, 2017 05:15 UTC