Iran’s daily gas production capacity increased from 1.031 billion cubic meters to 1.093 billion cubic meters last year, up about 60 million cubic meters as the refinery in Phase 13 of South Pars Gas Field came on stream, adding to the country’s nominal refining capacity, Majid Chegeni said at a press conference held on the sidelines of the 28th Iran International Oil, Gas, ‎Refining and ‎Petrochemical Exhibition, also known as Iran Oil Show 2024.

Gas delivery to the National Iranian Gas Company rose by 25 million cubic meters per day compared to the amount in Iranian year 1400 (ended March 20, 2022), he said, adding, “Gas condensates production increased from 198 million barrels per year to 259 million barrels per year.”

On gas exports to Turkey, Chegeni said Turkey’s gas imports from Iran fell to 16.5 billion cubic meters last year as the neighboring country faced some challenges in this regard.

Gas delivery to the national gas network rose by 4.5 percent last year, he noted, adding, “Gas consumption in household, commercial and non-major industries sectors decreased 3.1 percent last year against the year before which was in line with gas consumption optimization. However, weather affected consumption.”

Last year, the volume of gas delivered to the refineries and major industries surged by 11 percent and 6 percent respectively, he stated, noting, “Gas injection to oil reservoirs was up 63 percent and gas delivery to gas reservoirs rose 13 percent.”

Chegeni said 224 million euros of projects came online or started last year, adding, “Following the permissions granted to build renewable refineries, some 26 trillion rials were invested in the Iranian year 1401 (ended March 20, 2023) and 30 trillin rails of investments were made last year.”

Gas industry needs 420 billion rials in investment, he said, Iranian and foreign investors will fund 200 billion rials.

Iran’s deputy petroleum minister also said the contract to export Iran gas to Iraq was extended for five years, adding, “Negotiations with Turkey to extend gas export contract is underway and the two sides will form a joint work task to pursue it.”

Armenia has also requested to buy more Iran gas and the negotiation is underway, he said, adding, “In addition, Pakistan announced a few months ago that it wants to revive a gas contract with Iran and both sides have held talks in this regard.”

Chegeni also described gas inventory a priority for the NIGC and Iran’s ministry of petroleum, saying, “Iran’s gas inventory capacity will increase by 25 million cubic meters per day once the development and construction projects finalize.”