31 January 2021 - 20:06
  • News Code: 312974
Iran Gas Output to Hit 500 mcm: CEO

TEHRAN (Shana) – The CEO of the National Iranian Gas Company (NIGC) said the annual gas production of the country would reach 500 billion cubic meters by 2041.

Hassan Montazer Torbati told a specialized panel on "Horizons for Gas Trade, Value Creation and Consumption", which was held on the second day of the ۶th Iranian Petroleum and Energy Club Congress and Exhibition (IPEC 2021): “The annual gas production of the country is about 280 to 290 billion cubic meters and the daily production of the item is roughly 900 million cubic meters, equivalent to about 6 million barrels of crude oil.”

He added: "In the gas supply sector of power plants, according to the trend we had in previous years, it will reach about 225 billion cubic meters by 2041 with great acceleration. We will have the same growth in the domestic and commercial sectors, and although we think that domestic gas supply has been completed, due to population growth, our consumption in this sector is expected to continue to reach about 170 to 180 billion cubic meters per year.”

The Deputy Minister of Petroleum stated: "With this account, our production from the current year, which is about 290 billion cubic meters, will reach about 450 to 500 billion cubic meters in 2041, and from next year, if there is no plan to replace reservoirs, we will see a decrease in production."

Torbati stated that in the petrochemical sector and consumption of major industries, about 80 to 90 billion cubic meters will remain constant, adding: “Of course, in the third leap of the petrochemical industry, we predict that it will increase from the current 20 billion cubic meters to about 50 billion cubic meters.”

News Code 312974

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