“Gas swap from Turkmenistan has doubled,” Hossein-Ali Mohammad-Hosseini said at a panel on investment opportunities in NIGC, adding Iran are in talks with Turkmenistan to import gas.

Iran, Turkmenistan and Azerbaijan signed a gas swap deal for up to 2 billion cubic meters per year in 2021.

Iran was the third-largest gas producer in the world after the United States and Russia in last Iranian calendar year (ended March, 20, 2023), he stated, adding Iran produced 291 billion cubic meters of gas and injected 271 billion cubic meters of sweet gas to its national gas network.

The National Iranian Gas Company invested over 400,000 billion rials last Iranian calendar year, which will increase to 550,000 billion rials this year (to end March 19, 2023).

Iran’s gas industry needs about 40 billion dollars in investment by the end of the Seventh Development Plan, he said, adding 20 billion dollars are expected to be invested by private sector.