Iran’s economic trump card in N-talks

TEHRAN, Nov. 24 (MNA) – Iran, 5+1 nuclear talks have entered a new phase in which Iran’s natural gas reserves may prove to be its economic trump card.

With nearly 34 trillion cubic meters of inexpensive and exploitable natural gas reserves, Iran has the potential to dominate the global gas markets even with a drop in oil prices.

European countries are counting on Iran’s natural gas reserves, and the construction of pipelines to transfer sour gas from Iran’s South Pars to Europe can resolve some conflicts and obstacles in the way of Iran and Europe relations.

In the current situation, the best option for Iran to export gas to Europe is to join Trans Anatolian Natural Gas Pipeline (TANAP) from Azerbaijan through Turkey to Europe, which is planned to start construction in 2015 and to be completed by 2019. So far, government officials from Azerbaijan and Turkey have given Iran the green light for joining this $20bn gas pipeline.

Recently, too, during the visit of Iran’s Oil Minister Bijan Namdar Zangeneh to Ashgabat, certain negotiations had taken place with Turkmenistan’s President Gurbanguly Berdimuhamedow on transferring a part of the Turkmen gas through Trans-Anatolian gas pipeline via Iran.

Deputy Oil Minister & Managing Director Hamid Reza Araghi told Mehr News that an increase in Iran’s gas exports will greatly improve Iran’s diplomatic relations with other countries and said, “if the European countries seek to secure a stable supply of energy, they need to go no further than Iran.”

Hamid Reza Araghi maintained that Iran will soon call on international investors to participate in its gas transfer projects.

By Mehr News Agency

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