Forbes in a report has hailed Irans success over the development of its gas industry and says the country can soon become a main rival over market access to key players like the United States.
The worlds leading business magazine says Iran owes the progress it has made in its gas industry to its high exploration success rate which it says stands at a whopping 79 percent.
The rate, it says, is specifically high given that the worlds average is only 30 to 35 percent.
The Forbes report further emphasizes that the progress in Irans gas industry could soon enable it to exploit the promising markets in India, Pakistan, Kuwait, and UAE.
It adds that the countrys planned reductions in subsidized pricing, which will help reduce wasteful usage, will free up more of its gas for exports.
Forbes further stresses that Irans plans to produce liquefied natural gas (LNG) will specifically have a prosperous future.
Iran is currently working on several options to join the same international LNG club that the US is also joining, wrote Forbes in its report. And Europe is the mid- and long-term target. Europes gas demand is projected to increase 15-20 percent by 2025. This means that Iran is competition for the US.
The report emphasizes that Irans LNG plans are expected to become operational after 2020, adding that the country could benefit from the growing demand over the succeeding years particularly given that Europes gas demand, for example, is projected to increase 15-20% by 2025.
By Press TV
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