He noted that currently, 4 billion cubic meters of APG are collected annually, but under the quantitative target set in the Seventh Development Plan (2024-28), this figure must reach 16 billion cubic meters (bcm) per year.

Paknejad, emphasizing the importance of reducing gas flaring, said that significant volumes of gas are currently being flared in upstream oil operations, representing a loss of national resources.

He explained that projects and measures have been defined under short- and long-term plans to address this issue. Currently, 4 billion cubic meters of APG are collected annually, but this must increase to 16 billion cubic meters per year as outlined in the Seventh Development Plan.

Paknejad highlighted recent progress, stating that over the past month and a half, approximately 40 million cubic feet per day of gas has been collected from the Rag Sefid oil field.

This figure has now reached 80 million cubic feet per day and is expected to rise to 120 million cubic feet per day by the end of the Iranian calendar month of Farvardin (mid-April). He expressed hope that this process will continue until gas flaring and the waste of natural resources are eliminated.

Addressing gas imbalance

Regarding gas supply imbalances, the oil minister noted that as temperatures rise and the weather warms, gas consumption in residential, commercial, and industrial sectors decreases.

This reduction in demand alleviates some of the previous constraints on gas supply for industries and power plants, allowing for better meeting of gas needs, particularly for these sectors.

Paknejad added that plans have been developed to address gas imbalances, including short-term measures to provide immediate relief and long-term strategies focused on optimizing consumption and demand management.

The Seventh Development Plan includes provisions to leverage legal capacities to resolve gas imbalances within a suitable timeframe.

He stressed the need to focus more on consumption management, stating that shifting focus solely to increasing production without addressing demand will not resolve the imbalance. Non-pricing strategies for consumption management are also a priority for the ministry.