Iranian gas inviting for European and Asian countries

Iranian gas inviting for European and Asian countries

Several European countries, India, Iraq, and Pakistan have entered into negotiations with Iran in order to import gas, managing director of the National Iranian Gas Company (NIGC), Hamidreza Araqi said. 

He said that currently 189 billion cubic meters (bcm) of gas are being produced in the country annually which is planned to hit 330 bcm in 2017, NIGC said in a statement.

He added that Iran sits atop the largest gas reserves in the world with 34 tcm of gas noting energy security is an important issue for countries and Iran with huge gas reserves can meet their needs.

According to Araqi, injecting gas to reservoirs, converting gas to the products enjoying higher value-added including electricity, delivering gas to petrochemical plants as feedstock, using gas for the welfare of people and boosting exports are among the top priorities of NIGC in gas market.

He further noted that NIGC also plans to boost the number of gas refining companies from 13 to 19, the number of boosting gas pressure stations from 71 to 90 and expand gas supply network from 35 to 40 thousand km in next three years.

“In order to realize its development targets within the next three years, NIGC needs 62 billion dollars investment including 34 billion dollars investment in gas transfer, 21 billion dollars in refining, 3 billion dollars in storage, supplying gas to households 4.5 billion dollars,” NIGC chief noted.

He concluded gas is the driving force behind the economic activities having the ability to create many jobs and get the country out of recession.


Press Release, October 2, 2014; Image: NIGC