26 August 2014 - 12:34
  • News Code: 223533
South Pars Development Delayed Under Unfair Sanctions

TEHRAN August 26 (Shana): Iran’s Petroleum Minister Bijan Namdar Zanganeh said unfair sanctions against the country’s energy sector delayed the development of the giant South Pars gas field.

“Unfair sanctions against Iran have delayed the implementation of projects for gas production from the giant South Pars field,” Zanganeh told an international energy forum in Tehran.

He said delayed development of South Pars resulted in the consumption of 27 billion liters of fuel oil and other polluting fuel in 2013.

Zanganeh said politically-motivated oil sanctions have negatively affected oil and gas production in different countries, adding that the sanctions have overshadowed oil and gas supply balance in the world.

“These conditions have destabilized the market and increased consumers’ dependence on one or two leading producers or forced consumers to use unclean fuel,” he said.

According to the minister, Iran holds 33.7 tcm of proven natural gas deposits and 157.3 billion barrels of proven oil reserves.

Zanganeh said sanctions make management of resources ineffective.

He said Iran has been promoting the use of natural gas and compressed natural gas (CNG) in the country in order to lower pollution.

Zanganeh said the government is spending 60 billion dollars on energy efficiency projects.

The Iranian minister also said concerns have diminished with regards to shale oil and gas extraction due to the development of new technologies.

“Long-term predictions show that oil and gas recovered from unconventional reserves will continue to enjoy an important position in energy supply,” he said.

 

News Code 223533

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