29 Mar 2024
Saturday 30 November 2013 - 10:39
Story Code : 68053

Shift to liquid fuel causes $28b in losses

TEHRAN (FNA)- Managing-Director of the National Iranian Gas Company Hamid-Reza Araqi said that power plants are being run on liquid fuel due to a shortage in gas shortage supplies.


Araqi said the switch to liquid fuel has produced 28 billion dollars in losses for the country.

He said middle-distillate fuel consumption stood at 8.4 billion cubic meters in 1996, adding that the figure rose to 13, 21 and 22.3 bcm respectively in 2010, 2011 and 2012.

Over the first seven months of the current Iranian year which started in March, power plants consumed 30 bcm of liquid fuel because the giant South Pars gas field phases were not developed on time.

Araqi said South Pars, whose development started in 1997, could have started producing gas with proper management.

Had production from South Pars gas field [which Iran shares with Qatar] not been prioritized, we would have been forced to consumed all crude oil we export and we would have also had to import three million barrels a day of crude oil, he added.

The official stated that 20 million Iranian households and 70 power plants are running on natural gas. Araqi said 95 percent of Irans urban and 54 percent of its rural population are supplied with gas.

By Fars News Agency

 

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