USD 10 billion needed for Iran gas export to Europe

At least 10 billion dollars in investments is needed for Iran to export its gas to European customers, director of international affairs at National Iranian Gas Company said.

Azizollah Ramezani said so far nothing special with regards to construction of gas pipelines to Europe from Iran has happened, underlining that the two sides must reach understandings for developing new gas projects, according to a statement by NIGC.

“The studies conducted by the European Parliament indicate that Iran has potential to export 25 to 30 billion cubic meters (bcm) of gas per year to Europe,” Ramezani added.

He said the study also shows that 12 countries can provide Europe with gas, adding that Iran is the best choice for the green continent among other candidates for gas exports.

“The Europeans are seeking to diversity sources of energy supply in the Green Continent and after developing new phases of South Pars gas field Iran will have good potential for enhanced gas exports and it could be connected to the European gas network via eight routes,” Ramezani said.

Ramezani added that the EU supplies 22 to 23% of its energy needs by natural gas.