Iran’s ‘trump card’ in fight over gas markets with US

A view of Khangiran gas refinery in northeastern Iran

TEHRAN, Feb. 15 (MNA) – The member of Committee to Reform Oil Contracts in the oil ministry has said Iran will become a magnet in gas productions with gradual removal of sanctions.

Iran has the largest natural gas reserves with more than 34tr cubic meters in the world. With such an immense reserve, Iran has planned to take a 10-per cent share in the international gas markets. In doing so, Iran has waged attempts to sign gas export agreements with countries in all three continents.

Currently, along with gas exports to Turkey, agreements with Iraq and Pakistan have been signed to export more than 40 million cubic meters of natural gas. Also Iran has signed memorandum of understanding with Syria, Oman, Greece, Switzerland, and India to export gas via pipelines.

Nosratollah Espiari told Mehr News that the estimations excluding the unconventional gas reserves showed that gas reserves would be over after 60 years of extraction. “however, new examinations persuaded the experts to consider using unconventional reserves as extending this time to 180 years,” he added.

“Despite the discovery, extraction and refining of gas from US unconventional gas reservoirs, by next few years, the world will need Iran’s gas more than ever as a clean, environment-friendly and cheap source of energy,” he said, and that “we predict that with improved extraction from and development of Iran’s conventional reservoirs such as South Pars, North Pars, Lavan, Kish, Farzad, Forouz B, and Salman, Iran would emerge as the greatest gas exporter in the world.”

By Mehr News Agency 

 

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