14 August 2023 - 18:16
  • News ID: 476965
MP: Iran has opportunity to save over $100b in energy sector

SHANA (Tehran) – A member of Iran’s Parliament on Monday said the country has the opportunity to save more than $100 billion – equaling the value of 3.5 million barrels of crude oil – in the energy sector.

Malek Shariati Niasar, who made the remarks in the opening ceremony of Iran Energy Efficiency Conference (IREEC), added the country’s energy intensity is not appropriate, regretting that the index should have been reduced 50 percent from the beginning of the 5th Development Plan to the end of the 6th Development Plan.  

“It will be a big step even if we optimize energy by just 25 percent,” the lawmaker continued.

The member of the Parliament’s Energy Committee said 1.7 percent of the figure could be saved in Iran’s gas sector – one-sixth of the global figure on average.

He added 18 billion cubic meters (bcm) of flare gas are burnt in Iran per annum, which is equal to $5 billion worth of energy waste, while the country’s gas exports amount to some $17 billion.  

The power plants’ average optimization stands at 39 percent, mentioned Shariati Niasar, adding the figure in 16 gas-fired power plants of Iran is less than 25 percent and is estimated at 40 percent in the country’s seven combined cycle power plants.

Given Iran’s geopolitical situation, the country could turn into an energy hub, noted the parliamentarian, however warning the opportunity will be missed if energy is not optimized.

News ID 476965


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