24 August 2020 - 18:42
  • News Code: 306450
Iran Gas Exports at 16bcm/y

TEHRAN (Shana) – Iranian Minister of Petroleum Bijan Zangeneh said the country’s natural gas exports amounted to 16 billion cubic meters per year.

Speaking to reporters on Monday, he said the country exported 50 mcm to Iraq, as well.

Iran also exports gas to Armenia and has voiced readiness to start gas flow to Pakistan, the official added.

Regarding LNG production and exports, Mr. Zangeneh said because of the sanctions Iran was unable to fulfill its plans in this regard, adding there were plans for construction of mini-LNG units which were kept hamstrung because of the low price of LNG.

Zangeneh said that they are looking to use mini-LNG units for domestic use as railways and locomotives are the best place to use mini-LNG units.

The Iranian Minister of Petroleum said Turkey needed 130 million cubic meter of gas.

Mr. Zangeneh underlined the discovery of a major gas reserve by Turkey and the claims that the country would no longer need gas imports from Iran, saying "First of all, exact figures need to be provided by international technical bodies in this regard; however, what was announced was that this reserve holds 320 billion cubic meters of gas, but if this 320 billion cubic meters of gas is in-place, its extractable gas will be about 220 to 230 billion cubic meters.”

He continued: “If you divide this number by 20 years and 20 years by 365 days, 30 to 35 mcm of gas will be produced per day from the reserve; on the other hand, you should also pay attention to the fact that investing in the sea at a depth of 2,000 meters is both expensive and requires high technology, which, God willing, Turkey will do this quickly (investment and development).”

Mr. Zangeneh added: "If the figures are accurate, 30 million cubic meters of gas can be produced daily, which is still important for Turkey, but according to the information we have, Turkey's daily gas demand is 130 million cubic meters, which is mostly imported in the scale of 2.5 to 1 from Russia and Iran, and a small amount from the Republic of Azerbaijan.”

He further said that the fate of Farzad B field would be determined soon and its contract would be signed.

The official also said that no concessions had been given to the Chinese, calling on any country who believed Iran’s deals with the Chinese was one-sides to step forward and sign an exact similar deal with Iran.

He also reiterated Iran’s readiness to cooperate with any country excluding the Zionist regime in oil and gas fields.

News Code 306450

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